New Delhi: In a further sign of easing economic tensions, China has assured India that it will address New Delhi’s key trade concerns, particularly regarding imports of rare earths and fertilisers.
According to government sources, Chinese Foreign Minister Wang Yi informed External Affairs Minister (EAM) Dr. S. Jaishankar that Beijing is actively working to resolve three major issues raised by India — rare earths, fertilisers, and tunnel boring machines.
China has recently imposed restrictions on exports of rare earth magnets as retaliation against US tariff hikes, using the strategic commodity as leverage in the ongoing trade war. The move has also impacted other countries reliant on Chinese imports.
Rare earth magnets play a critical role in high-tech industries, being essential for electronic devices, electric vehicles, and large-scale industrial machinery.
Wang Yi arrived in New Delhi on Monday for a two-day official visit. His schedule includes a new round of Special Representatives (SR) dialogue on the boundary issue with National Security Advisor (NSA) Ajit Doval, as well as a meeting with Prime Minister Narendra Modi.
China’s Foreign Ministry has said that the visit will help both nations work together in implementing the consensus reached last year between Chinese President Xi Jinping and Prime Minister Modi.
During his opening remarks, EAM Jaishankar highlighted the complexity of India-China ties, noting:
“As neighbouring nations and major global economies, our relationship has many facets and dimensions. It is essential in this context that restrictive trade measures and roadblocks are avoided.”
He further added:
“When the world’s two largest nations meet, international developments are naturally part of the conversation. We seek a fair, balanced, and multipolar world order, including a multipolar Asia. Reformed multilateralism is the call of the day. At the same time, the imperative of maintaining stability in the global economy is evident. Combating terrorism in all its forms and manifestations is another major priority. I look forward to our exchange of views.”
The meetings are expected to cover a wide range of issues, including the border situation, trade, and the possible resumption of flight services between the two countries.
With inputs from IANS