Federation of Indian Export Organisations (FIEO) has sent a delegation of 100 plus businessmen from sectors like carpets, kitchenware, handicrafts, Jute products, engineering items, etc. to China.

According to a press note the apex exporters body has exuded confidence that the bilateral trade between India and China would touch USD 60 billion this financial year.

The bilateral trade between India and China has been growing and China has emerged as India’s second largest trading partner with and all time high figure USD 42.4 billion in 2009-10. The delegation is expected to meet senior functionaries of China Foreign Trade Center and other government officials of Guangdong province during their stay.

Delegates voiced their concern about the high rate of import duty in China on specific products which is an irritant in export to China.

However, the participants felt that with increasing wages, high cost of credit and Yuan appreciation, China will lose some of its competitiveness giving an edge to Indian products, it said.

With consistent demand of FIEO Canton Fair Phrase III has been opened for International participation from this year. FIEO is also participating in Phase III edition starting from 1st May, at the same venue with a 50 member delegation.