Mandate of FT (NEA) division is to deal with all territorial matters relating to India’s trade and economic cooperation with China PR, Hong Kong, Taiwan, Japan, Republic of Korea, Korea DP RP, Macao and Mongolia i.e. the North East Asia region.
Duties include engagement with these countries on trade & economic co-operation through institutional mechanisms such as Joint Group on Economic Relations, Trade, Science and Technology (JEG)/ Joint Working Group (JWG) with China, Joint Committees and Sub- Committees under India-Japan CEPA and India-Korea CEPA and by arranging informal meetings, dialogues and consultations with these countries.
Mandate further includes collection, compilation and analysis of trade statistics in respect of these countries & regions from time to time and interaction with Indian Missions in these countries on trade & economic cooperation.
North East Asia constituting of China, Japan, Korea RP, Hong Kong, Taiwan etc. accounted for trade of USD 124.95 billion in 2015-16 which was 19.42% of India’s total trade. Exports to NEA countries were USD 30.84 billion (11.76% of India’s exports) and imports from NEA countries were USD 94.11 billion (24.7% of India’s imports). India’s trade deficit with NEA countries in 2015-16 stood at USD 63.28 billion which is 53.3% of India’s total trade deficit (USD 118.72 billion).
China accounts for 56.6% of NEA’s total trade, while Hong Kong, Japan and Korea contribute 14.5%, 11.6 % and 13.3 % respectively. Taiwan, Mongolia, Macau & DPR Korea make up the balance 4%. While China constitutes 10.99 % of India’s total trade, it accounts for over 44.38 % of our trade deficit.
Apart from trade, the NEA countries together are amongst the most dominant economic players in the world at present with total exports of USD 4233 billion & imports of USD 3548.7 billion and USD 7781.6 billion of total trade. China, Korea, Taiwan and Hong Kong are leading economies with high growth rate; they could be significant investment partners for India. Engagement with NEA is also integral to India’s ‘Act East Policy’ which seeks to expand India’s economic engagement beyond the traditional spheres of North America and Europe. Trade with North East Asian countries from 2010-11 to 2015-16 is given in Table as under;
(Value in USD million)
(Source – DGCI&S)
Indo Korea CEPA review negotiations have commenced
11 th Joint Economic group meeting at ministerial level with China planned
Joint Working Group meeting with Taiwan planned
4 th Joint Committee meeting at Secretary level under India-Japan CEPA
i) India - Korea CEPA
A Comprehensive Economic Partnership Agreement (CEPA) between India and Republic of Korea was signed on 7th August 2009. The CEPA came into force from 1st January, 2010 and presently negotiations are going on for its upgradation.
ii) India - Japan CEPA
A Comprehensive Economic Partnership Agreement (CEPA) between India and Japan was signed on 16th February, 2011. This Agreement has come into force from 1st August, 2011.
Trade Promotion Activities include participation by Trade Chambers/Export Promotion Councils along with industries in trade fairs and exhibitions held abroad in NEA countries. Holding of bilateral meetings at different levels from time to time to promote and facilitate trade.
Trade Agreements signed with Japan and South Korea are available on the website of the Department of Commerce at the following links:
...as on 5th April 2014
India-Japan CEPA: http://www.commerce.gov.in/writereaddata/pdf_download/IJCEPA_Basic_Agreement.pdf
India-Korea CEPA: http://www.commerce.gov.in/writereaddata/trade/INDIA%20KOREA%20CEPA%202009.pdf
Ownership Information: Website belongs to Department Of Commerce.
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21 Apr 2017)