Japan, India sign sweeping trade deal
By Malcolm Foster |
October 26, 2010, Tuesday
|
Print Edition
Print Edition
THE leaders of India and Japan signed a sweeping agreement yesterday to boost trade and investment while the visiting Indian prime minister pushed for a nuclear energy deal - a touchy issue for Tokyo because of India's past atomic test blasts.
The economic partnership agreement slashes tariffs on a range of goods from auto parts to bonsai plants and introduces measures to promote investment and deal with intellectual property rights.
Forging this kind of pact is increasingly a priority for Japan, which sees itself falling behind regional rival South Korea in this area.
Japanese Prime Minister Naoto Kan and Indian counterpart Manmohan Singh signed papers signaling the end of trade negotiations that began in early 2007.
Despite the size of their economies, Japan and India have had limited trade, which totaled 636 billion yen, or about US$7.7 billion, for the first six months of the year, just 1 percent of Japan's global trade.
Singh also came to Japan saying a civilian nuclear energy deal that would allow Japanese companies to export nuclear power generation technology and related equipment to India would be a "win-win proposition."
Japan began talks in June with New Delhi for a possible nuclear energy cooperation deal, but the subject is delicate in Japan because of India's refusal to sign the Nuclear Non-Proliferation Treaty. Anti-nuclear mood runs high in Japan, the only nation to suffer atomic bomb attacks.
The economic partnership agreement slashes tariffs on a range of goods from auto parts to bonsai plants and introduces measures to promote investment and deal with intellectual property rights.
Forging this kind of pact is increasingly a priority for Japan, which sees itself falling behind regional rival South Korea in this area.
Japanese Prime Minister Naoto Kan and Indian counterpart Manmohan Singh signed papers signaling the end of trade negotiations that began in early 2007.
Despite the size of their economies, Japan and India have had limited trade, which totaled 636 billion yen, or about US$7.7 billion, for the first six months of the year, just 1 percent of Japan's global trade.
Singh also came to Japan saying a civilian nuclear energy deal that would allow Japanese companies to export nuclear power generation technology and related equipment to India would be a "win-win proposition."
Japan began talks in June with New Delhi for a possible nuclear energy cooperation deal, but the subject is delicate in Japan because of India's refusal to sign the Nuclear Non-Proliferation Treaty. Anti-nuclear mood runs high in Japan, the only nation to suffer atomic bomb attacks.
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