Activities - GoG-AMA Centre for International Trade

The bilateral trade between India and Malaysia between January-May this year was worth USD 4 billion according to latest data available. This is expected to go up to USD 16 billion by 2012. The two sides have identified sectors like petroleum and gas, IT, healthcare, education, processed food, medicine, construction and engineering as major areas of opportunities.
India and Australia have agreed to explore possibilities for economic engagement between the two countries. Australia is the 10th largest merchandise trading partner. The bilateral trade between the two countries is now about USD 2 billion. A joint study group constituted to examine the feasibility of a Free Trade Agreement is expected to submit its report by the end of this year.
India’s exports during July 2008 were valued at USD 16345 million, which was a 31 per cent jump over what it was in July 2007. Imports during the month was valued at USD 27143 million.

Onion Exports shot up to seven lakh tones during April-August this year according to National Agricultural Cooperative Marketing Federation of India Limited,
The Chinese response to the imbalance in the trade imbalance in the India-China trade in favour of the latter has been swift and strong. As many as 40 Memorandam of Understanding (MoUs) were signed in New Delhi today between top state-owned & private Chinese enterprises and Indian corporates to source a range of products worth over US$ 390 million from India such as polyethylene, polypropylene, marine products, aluminum, manganese, cotton, chrome and castor oil, etc.

Among the major Indian companies which exchanged MoU documents with Chinese corporations are: Reliance Industries Ltd., Sterlite Industries Ltd., Ranbaxy, Adani Wilmar Ltd., BALCO, Bharat Mining Company and TT Ltd.

The MoU were signed in the presence of Mr. Gao Hucheng, the Chinese Vice Minister of Commerce and Mr. Dinesh Sharma, Joint Secretary, Ministry of Commerce at a business meeting organized by FICCI.
Mr. Hucheng said, the Chinese response comes in the wake of the Prime Minister, Dr. Manmohan Singh’s visit to China last year where he had expressed the hope that the Chinese government would take positive steps to redress the trade imbalance of US$ 16 billion against India by sourcing Indian products for the Chinese market.

China, he said, was a huge market and invited Indian investors and entrepreneurs to visit China and determine the Indian products that would appeal to the Chinese people.
Mauritius sees very strong prospects for partnership with India, Mr Marie Etienne Sinatambou, Deputy Speaker of the Mauritius Assembly, revealed at an interactive meeting attended by Mauritius Parliamentarians.

The meeting was organised by the Confederation of Indian Industry (CII) here.

“As India and Mauritius enjoy double taxation avoidance treaty, it would certainly be advantageous for Indians to do business in Mauritius”, said Mr Sinatambou.

Mr Sunil Nathani, Partner, Economic Laws Practice, in his welcome address, emphasised that the island country had an open economy with few restrictions on exports and imports, and huge advantages.

The ban order on maize exports, imposed on July 3 this year, lapsed on October 15 with the Union government deciding against extending it, an official with the Directorate-General of Foreign Trade (DGFT) said.

Traders can now export maize without any restrictions.
Around one million tonnes of maize are exported annually, mostly to South-East Asian nations. However, in 2007-08 (October-September) exports surged to around 3 million tonnes due to firm prices in the international markets.

This caused domestic prices to surge to over Rs 9, 500 a tonne, leading to a ban on exports following persistent demands from the poultry industry which is the direct consumer.

Hence, maize exports were banned from July to October 15. Since then, maize prices, both in the local and international markets, have fallen.

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