India, Japan open free trade talks in New Delhi |
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Published
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Thu, 01 Feb 2007 12:40
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NEW DELHI (XFN-ASIA) - India and Japan have launched a first round of discussions to lay down the groundwork for a comprehensive free trade deal within two years, the Japanese embassy here said.Three days of talks are to end Friday and are expected to pave the way for lower tariffs and increased trade between the two countries.'There will be discussions on the framework of the negotiations, including the scope and modalities of the negotiations,' a statement from the Japanese embassy said.'The participants will also exchange opinions on major areas for negotiations, such as trade in goods, trade in services and investment.'Japanese deputy minister for foreign affairs Masaharu Kono and Indian commerce secretary Gopal Krishna Pillai are leading the talks, the statement said.The negotiations follow an agreement in Tokyo in December between Indian prime minister Manmohan Singh and his Japanese counterpart Shinzo Abe to conclude free-trade talks within two years.Bilateral trade between Japan and India hovers at only 6.0 bln usd, tiny compared with the more than 170 bln usd of trade between Japan and China.Among its priorities, Japan wants to lower India's 100 pct tariffs on vehicle imports and establish common rules on investment and services, Isono said.India, in turn, has expressed interest in deregulating Japanese customs inspections, cutting tariffs on shrimp imports and loosening visa rules for Indian medical care workers and engineers.afp
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Indian PM plans to visit China in the second half of this yr 