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04-24-2012, 10:20 PM #1
After six-year wait, basmati rice scales China's trade wallsChinese authorities have finally given the green light for Indian exports of basmati rice following a long and tortuous six-year process that has been seen as underscoring the difficulties of navigating the complex bureaucratic hurdles that bar entry into the China market.
China’s General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) announced last week it would allow imports of basmati rice from India. Negotiations were on since at least 2006, when President Hu Jintao visited India. It took another visit from Mr. Hu six years later, when he travelled to New Delhi last month for the BRICS Summit, to give the final push to a long-running process.
Indian exporters can begin shipping basmati rice to China after both countries agree on a mutually satisfactory quarantine protocol. Once a quarantine certificate is agreed by both sides, China will have to
circulate the certificate to all its ports and customs authorities before imports can begin entering the country.
Indian industry groups have estimated between $50-100 million potential trade. The move will have little impact on the overall trade relationship: the trade deficit between both countries reached $27 billion last year in China’s favour, with bilateral trade reaching a record $74 billion....being a human...
04-25-2012, 11:24 AM #2