1. BRICS summit: China upset with trade barriers, cancels participation in trade fair

BRICS summit: China upset with trade barriers, cancels participation in trade fair

China cancelled its participation at the BRICs trade fair in New Delhi on Friday.

By: | Updated: October 14, 2016 3:41 PM
BRICS, BRICS tarde, BRICS tarde in New delhi, BRICS tarde fair in India, China cancelled BRICS Trade, CHINA in BRICS Trade, BRICS news, latest BRICS news, financial express BRICS Trade Fair: A global isolation of Pakistan by India would lead to China losing on a huge margin of profit through the China-Pakistan Economic Corridor (CPEC). (Reuters)

China cancelled its participation at the BRICs trade fair in New Delhi on Friday. Reports suggest that China is upset with the BRICS trade barrier. China and India have been at loggerheads regarding many issues including the border dispute and India’s attempt to globally isolate Pakistan. A global isolation of Pakistan would lead to China losing on a huge margin of profit through the China-Pakistan Economic Corridor (CPEC). Meanwhile, Several social media campaigns have gone viral and politicians in many parts of the country have also asked people not to buy Chinese goods this festive season.

India is hosting the 2-16 BRICS(Brazil, Russia, India, China, South Africa) summit in Goa. The idea of organising a BRICS trade fair exhibition was first proposed by Prime Minister Narendra Modi in 2015. Modi had proposed the idea during his address to the BRICS Business Council members at Ufa, Russia. The trade fair, this year is being organised at the Pragati Maidan in New Delhi. According to the Indian Commerce Ministry, the trade fair is exhibiting around 20 different sectors; aerospace, agro-processing, auto and auto components, chemicals, green energy and renewables, healthcare and pharmaceuticals, railways, textiles and apparel, infrastructure, IT, engineering goods, tourism, gems and jewellery and skill development.

The ministry had earlier re;eased a statement saying that the BRICS trade fair would present the member countries with the platform to showcase their state of the art technologies. The organisers of the 3-day event, FCCI said that over 600 exhibitors would be showcasing their products and expertise at the BRICS Trade Fair.

Please Wait while comments are loading...

Go to Top