New Delhi: China on Monday promised to address India's concerns on the widening trade deficit as New Delhi sought greater market access for products such as rapeseed, soyabean, rice, sugar and pharmaceuticals.

The issue of trade imbalance with the neighbouring country was discussed in detail during the meeting of the India-China joint group on economic relations, trade, science and technology here.

The group was formed in December 1988 during the visit of then Prime Minister Rajiv Gandhi to Beijing.

Commerce and industry minister Suresh Prabhu and his Chinese counterpart Zhong Shan chaired the meeting on Monday.

"Zhong Shan welcomed Indian investment in China and promised to address the trade deficit between the two countries," a commerce ministry statement said.

Both the sides deliberated on ways to boost two-way trade, preparation of an action plan, a greater focus on Regional Comprehensive Economic Partnership and e-dialogue.

Prabhu said addressing India's trade imbalance with China was the most important matter to be taken up by the group.

He said India could export high quality pharmaceutical products besides IT and ITeS services to China and increase co-operation in sectors such as tourism and healthcare.

"The minister exhorted his Chinese counterpart for greater market access for agricultural products such as rapeseed, soyabean, basmati and non-basmati rice, fruits, vegetables and sugar," the statement said.

Both nations signed an agreement in September 2014 to achieve trade balance by 2019. The five-year programme is a joint medium-term road map to promotetrade and investment.

The agreement also talks of the easing of restrictions by the Chinese government against high potential export items from India such as bovine meat, fruit & vegetables and basmati rice. Of these, only basmati has seen a breakthrough with 14 firms allowed to export to China in 2016.

"The agreement is non-binding, reducing the trade deficit depends heavily on intent," officials said.

Bilateral trade between India and China rose to $71.45 billion in 2016-17 from $1.83 billion in 1999-2000, though most of this is skewed to Chinese exports. Trade deficit with China stood at $36.73 billion during April-October this fiscal.