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 DPR, 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 Committee meetings with Japan and Korea RP 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. accounts for trade of USD 125.18 billion which was 16.4% of India’s total trade in 2013-14. Exports to NEA countries were USD 40.81 billion (13% of India’s exports) and imports were USD 84.37 billion (18.7% of India’s imports). India’s trade deficit with NEA countries in 2013-14 stood at US$ 43.55 billion which is 31.6% of India’s total trade deficit (USD 137.46 billion). China accounts for 53% of NEA’s total trade, while Hong Kong, Japan and Korea contribute 16%, 13% and 13 % respectively. Taiwan, Mongolia, Macau & DPR Korea make up the balance 5%. While China constitutes 8.6% of India’s total trade, it accounts for over 26% 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 3.92 trillion & imports of USD 3.75 trillion and USD 7.67 trillion 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 ‘Look 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 2008-09 to 2013-14 is given in Table as under;
(Value in USD million)
(Source – DGCI&S)
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.
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 in trade fairs/exhibitions in abroad. Holding of bilateral meetings 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
...as on 7th October 2014
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27 Feb 2017)