India, Japan begin economic partnership talks

New Delhi, Feb 1 (UNI) Negotiations on India-Japan Comprehensive Economic Partnership Agreement (CEPA) were formally launched here today.

The first round of negotiations which began informally yesterday is spread over three days. Mr Masaharu Kohno, deputy minister for foreign affairs, is leading Japanese delegation while the Indian side is led by commerce secretary G K Pillai.

The agenda for discussions include the Framework of the Negotiations, the scope and modalities of the negotiations and other major areas such as trade in goods, trade in services and investment.

During the visit of Japanese former prime minister Junichiro Koizumi to India in April 2005, the two countries had decided to launch the India-Japan Joint Study Group (JSG) by June 2005 and submit its report within a year. The JSG had recommended that the two countries launch inter-governmental negotiations to develop CEPA.

India's exports to Japan in 2005-06 were valued at 2.4 billion dollars while imports stood at 3.5 billion dollars. Major Indian exports from Japan are gems and jewellery, iron ore, and marine products while major imports include machinery, electronic goods, iron and steel.

UNI