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    <title>Trade with Neighbouring Countries</title>
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    <description>India maintains a trade surplus with SAARC members while engaging in large bilateral trade with China that shows a significant deficit; China is the largest partner and Myanmar trade is supported by border arrangements. An ad hoc SAFTA working group targets reductions in the &#039;sensitive list&#039; with a proposal to lower peak tariff rates substantially, and institutional measures-bilateral MoUs, Joint Economic Group meetings, India Myanmar border committees and the India ASEAN Trade in Goods framework-are expected to strengthen trade relations and facilitate regional tariff liberalisation.</description>
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