Why in News?

• India and China signed a protocol on hygiene and inspection requirements for the exports in New Delhi. The protocol was signed following a discussion between India’s Union Commerce Ministry and a six-member delegation led by Vice Minister, General Administration of Customs of China, Hu Wei on easing market access for exports of various farm products.

Highlights:

• The representative from both the Indian and Chinese sides acknowledged each other’s concerns while agreeing to figure out a best possible solution to solve market access problems for the realization of the two-neighbor countries’ vision by encouraging a balanced trade.
• The Chinese delegation discussed the problems related to market access for Chinese products like milk and milk products, soy meal, fruits and vegetables, tobacco and pharmaceuticals.
• This protocol will help India to export fish meal, and fish oil to the markets in China for which India has been seeking approval from China.
• It will help India to start the fish meal and fish oil export to China. China imports fish oil worth USD 143.29 million per year and the fish-meal to the tune of $263.43 million.
• So far, China had not allowed India for the export of these products. It is the second Indian product to get approval from China within the last six months.
• In June this year, General Administration of Customs of China and Department of Agriculture of India had signed a MoU on phytosanitary requirements for exporting Rice from India to China.