When India meets China, the country that’s been in a trade war for decades will likely get a major trade boost.
The two countries have been locked in a prolonged trade war since the U.S. left the World Trade Organization in 2001.
The U.K. is one of the world’s largest exporters of British manufactured goods and services, but India, the world leader in manufacturing, has been the world champion in the production of food, beverages and raw materials, including rice and wheat.
In the past few years, the U-turn has been driven largely by the economic downturn in India, which is struggling with the world market downturn, and by China’s rise in the global economic order, which includes the United States.
India is a net importer of Chinese goods, while China is a major importer, according to the World Bank, and its imports of Indian goods rose 17 percent in the year ending March 2017 compared with the previous year.
The WTO trade dispute with India, also known as the Permanent Court of Arbitration, is expected to end this year.
But in a sign that India’s economy may still be in transition, India said it plans to resume trade negotiations this year with China, which will help the U.-led trade talks proceed.
The U.N. Economic and Social Council (ESC), which meets in New York next month, is set to endorse India’s economic progress this month and deliver its annual report on April 15.
The council is expected take note of India’s trade surplus with China of $5.7 billion last year and the $5 billion surplus with the United Kingdom, the biggest bilateral trade surplus.
In a speech on Monday, Indian Prime Minister Narendra Modi said the U, China and India are the three leading producers of rice and other grain products.
China is India’s second-biggest trading partner, after the United Arab Emirates, and India’s biggest trade partner in the world, according the United Nations Economic Commission for Western Asia (ECWA).
India and China are also India’s two biggest trading partners in the United states, according World Bank data.
India’s trade deficit with the U – which is estimated at $3.2 billion last week – is higher than with the rest of the Asian region.
China’s trade with India is smaller than India’s with the other Asian economies and larger than India and Japan’s combined trade with the three countries.
China also is the biggest trading partner for India in Europe and South America.