The Hindu : National : India-Japan economic agreement by year-end

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Friday, Jul 28, 2006

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National

India-Japan economic agreement by year-end

Special Correspondent

New Delhi: India and Japan are expected to finalise a Comprehensive Economic Cooperation Agreement (CECA) by the end of this year. This was indicated by the Commerce and Industry Minister Kamal Nath here when Japan's Senior Vice-Minister for Foreign Affairs Yasuhisa Shiozaki called on him on Wednesday.This is one of several bilateral agreements, which Mr. Kamal Nath has said are being negotiated while stressing that India will not lose out in the wake of the collapse of the World Trade Organisation talks.

An official release says a Joint Study Group report submitted recently has recommended that both countries should work towards the establishment of CECA. The study group was established to undertake a comprehensive review of economic and commercial relations between India and Japan and give its recommendations on upgrading those linkages in various fields.

Two-way trade between the countries amounted to around $ 5 billion in 2004-5. Japan's total global trade is $ 1,019 billion but Japan's imports from this country as percentage of its total imports are only 0.44 per cent.

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