China has now agreed to import fish meal and fish oil from India as both sides have inked a protocol regarding this on Wednesday. “Signing of the protocol between the two countries paves the way for export of Indian fish oil and fish meal to China,” the commerce ministry said in a statement. A protocol on hygiene and inspection requirements for the exports was signed during the visit of Chinese Vice Minister, General Administration of Customs of China Hu Wei here.
The move would enable India to commence export of fish meal and fish oil to China. The neighbouring country has so far not allowed these exports by India. China imports fish oil to the tune of USD 143.29 million per year and fish meal worth USD 263.43 million. The chinese minister, who is leading a six-member delegation, met Commerce Secretary Anup Wadhawan and discussed various issues of market access for different products like milk and milk products, agricultural goods like soy meal, fruits and vegetables, tobacco and pharmaceuticals.
India has been seeking market access for these items from China. “Both the sides agreed to resolve the market access issues expeditiously to achieve the vision of the leaders of both the countries by promoting a more balanced trade,” it said. India’s trade deficit with China has increased to USD 63.12 billion in 2017-18 as against USD 51.11 billion in the previous financial year. China has earlier permitted imports of rice from India.