China raises iron ore export duty issue with Nath
China has raised with India the issue of removal of export duty on iron ore levied in the recent budget, which has already led to decline in exports of the mineral from the country.
By PTI |
BEIJING: China has raised with India the issue of removal of export duty on iron ore levied in the recent budget, which has already led to decline in exports of the mineral from the country.
The issue was raised by Chinese Commerce Minister Bo Xalai in his meeting with Commerce Minister Kamal Nath here yesterday.
India accounts for 23 per cent of China's imports of iron ore and the imposition of export duty of Rs 300 per tonne has hit the Chinese companies hard.
For Indian mining companies while the new contracts from India have dried up, they are attempting to revise the existing deals.
The government resorted to the duty after lobbying by steel industry which wanted the raw material to be conserved.
Although the provision has been introduced in the budget, the government is listening to both the steel companies and miners for balancing their interests.
At his meeting with Chinese Agriculture Minister, Nath raised issues such as export of fruits and vegetables, bovine and dairy products.
The Chinese Minister assured Nath of expediting decision on sanitary and phyto-sanitary measures that ware hindering exports of these items to the Chinese market.
The issue was raised by Chinese Commerce Minister Bo Xalai in his meeting with Commerce Minister Kamal Nath here yesterday.
India accounts for 23 per cent of China's imports of iron ore and the imposition of export duty of Rs 300 per tonne has hit the Chinese companies hard.
For Indian mining companies while the new contracts from India have dried up, they are attempting to revise the existing deals.
The government resorted to the duty after lobbying by steel industry which wanted the raw material to be conserved.
Although the provision has been introduced in the budget, the government is listening to both the steel companies and miners for balancing their interests.
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At his meeting with Chinese Agriculture Minister, Nath raised issues such as export of fruits and vegetables, bovine and dairy products.
The Chinese Minister assured Nath of expediting decision on sanitary and phyto-sanitary measures that ware hindering exports of these items to the Chinese market.
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