Enhanced India-Japan eco ties imperative: Kamal Nath

Tokyo, Dec 14: Union Commerce and Industry Minister Kamal Nath today said the economic complementarities between India and Japan and their demographics made it imperative for the two countries to forge greater economic cooperation with each other.

Briefing reporters here about the talks between Prime Minister Manmohan Singh and senior Japanese ministers, Mr Kamal Nath pointed out that while Japan was faced with a shrinking workforce, India had the advantage of a very young workforce.

Dr Singh, who arrived here last night on a three-day visit, began his day today with meetings with three Japanese ministers during which they discussed ways of strengthening the strategic and economic component of the relationship between the two countries.

Japanese Foreign Minister Taro Aso, Finance Minister Koji Omi and Economy, Trade and Industry Minister Akira Amari called on the Prime Minister separately in the forenoon for talks at the Four Seasons Hotel at Chinzan-so, where he is staying.

Dr Singh had a brief interaction with his Japanese counterpart Shinzo Abe, who accorded him a ceremonial welcome at his official residence this afternoon, ahead of their official talks tomorrow.

Mr Kamal Nath noted that there had been a quantum jump in Japanese investment in India.

The Commerce Minister said Dr Singh's discussions with the Japanese leaders focussed on the proposed Comprehensive Economic Partnership Agreement (CEPA) between the two countries.

The Prime Minister pointed out that India was emerging as a ''western hub'' for the East Asian market, giving it an important logistic advantage.

Dr Singh hoped Japan would participate in the second phase of the Delhi Metro project, whose first phase has already been completed. He said the second phase of the project assumed particular significance of the Commonwealth Games that Delhi was getting ready to host in 2010.

The Prime Minister told the Japanese leaders that the proposed multi-modal dedicated freight corridors between Delhi and Mumbai and Delhi and Howrah had the potential to change the face of India.

The two sides were also excited about the proposal for an industrial corridor along the Delhi-Mumbai freight corridor.

Mr Kamal Nath also had a meeting with the Japanese Agriculture Minister during which the two sides discussed how greater economic cooperation between the two countries could lead to an increase in Japanese imports of agricultural products, especially marine products and fruits and vegetables.

Mr Kamal Nath discussed Japan's position at the WTO with Mr Amari and how the two sides could coordinate efforts to end the present impasse in the Doha round.

The Prime Minister also had a meeting with a delegation of Indian businessmen who are currently here to discuss how the engagement with Japan could be enhanced. One of the suggestions made at the meeting was for a special India-Japan Infrastructure Fund.

Mr Kamal Nath said both sides would examine the suggestion, which he felt could supplement government efforts.

UNI

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