Indo-China Jan trade falls below $3 bn

NEW DELHI: Bilateral trade between India and China has fallen by more than a third in January 2009 compared with January 2008.

According to Chinese ambassador to India Zang Yan, total trade declined to less than $3 billion in the month compared with over $4 billion.

The ambassador, however, expressed confidence that both countries would overcome the impact of the global slowdown faster than others, as their economic fundamentals were strong.

Pointing out that more and more countries were resorting to protectionism to tide over the current times, Mr Yan said that India and China should work against protectionism.

���India and China both should work against protectionism, which is greatly harmful to the growth of world economy and the growth of free trade and competitive industry,��� he said at an interaction organised by PHD chamber of commerce and industry on Thursday.