India, Japan ink deal to improve bilateral trade and investment

ANI | 2010-10-26

India, Japan ink deal to improve bilateral trade and investment

India and Japan today signed agreements to boost mutual trade, investment and strategic partnership between the two major economies of Asia.

Both the countries today agreed that there is a need to speed up talks on civil nuclear cooperation deal.

The two governments also concluded negotiations on Comprehensive Economic Partnership Agreement (CEPA), which signals the economic alignment of two of the largest economies in Asia.

It is expected to open up new business opportunities and lead to a quantum increase in trade and investment flows between our two countries.

Holding extensive talks on bilateral, regional and global issues of shared interest, Dr. Manmohan Singh and Naoto Kan, through a joint statement, also decided to speed up negotiations on civil nuclear cooperation deal.

"We discussed ways to expand high technology trade between India and Japan. I hope that Japan will make its export control regulations for such trade easier and predictable. Civil nuclear energy can be another mutually beneficial area of our cooperation," said Manmohan Singh in the joint statement.

Supporting the Indian Prime Minister on taking the talk on civil nuclear cooperation forward, the Japanese Prime Minister hoped that New Delhi would respect Tokyo’s sentiments on the nuclear issue.

"With regard to cooperation of civil nuclear energy, once again, we sought India’s understanding with regard to Japanese sentiment towards things nuclear. But having said that we agreed to further accelerate the negotiations for that nuclear cooperation agreement," Kan said.

In a bid to strengthen friendly relations and facilitate better contact between nationals of both the countries, India and Japan also signed a memorandum on simplifying visa procedures.

Reaffirming the political commitment in both countries cutting across party lines and the popular desire for upgrading bilateral relations, the two leaders valued their cooperation for sustained peace and prosperity in a changing and dynamic Asia and the world.

Both the leaders also reiterated the fundamental identity of values, interests and priorities between the two countries.

"We reviewed the implementation of the action plan on Security Cooperation signed last December. Our Defence Ministers have agreed to meet annually. Prime Minister Kan and I discussed the possibility of further deepening our strategic partnership," Dr. Singh said.

The Indian Prime Minister also sought Tokyo’s cooperation at various global platforms including the United Nations.

"We have agreed to enhance our cooperation, both bilaterally and within the G-4, in the reform of the United Nations, and especially of the Security Council," noted Dr. Manmohan Singh.

The two Prime Ministers positively evaluated ministerial-level annual dialogues and exchanges between Foreign Ministers, Defence Ministers and Ministers of Economy, Trade and Industry of Japan and External Affairs Minister, Defence Minister, Commerce and Industry Minister and Deputy Chairman of the Planning Commission of India.

Dr. Singh is currently paying an official visit to Japan for the Annual Summit of the Prime Ministers from 24-26 October 2010 at the invitation of the Prime Minister of Japan. (ANI)

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