The governments of Japan and India started negotiating a comprehensive Economic Partnership Agreement in January 2007. They concluded the deal in 2011.
last update: May 2012 Photo: Government of India, licensed under the Government Open Data License - India (GODL)
India and Japan will ink the Comprehensive Economic Partnership Agreement (CEPA) in the next one year, minister of state for industry Ashwani Kumar said on Friday.
Japan is confident that a Comprehensive Economic Partnership Agreement currently being negotiated with India would help the two countries dominate Asia's economic output in the future.
India and Japan have decided to set up four working groups in goods, services, investment and bilateral cooperation to take forward negotiations on the proposed bilateral comprehensive economic partnership agreement (CEPA).
Ahead of his visit to Tokyo next week, Prime Minister Manmohan Singh has expressed the hope that India and Japan will launch negotiations for a comprehensive economic partnership agreement soon.
The India-Japan EPA/CEPA should cover, but may not be limited to trade in goods, trade in services, measures for trade promotion, facilitation and liberalisation of investment flows, measures for promoting economic cooperation in identified sectors and other areas for a comprehensive economic partnership between India and Japan.
The leaders of Japan and India agreed Friday to start talks on forging a bilateral free-trade agreement within two years and to increase cooperation between the two countries' navies and coast guards.
"Earlier, Japan wanted agriculture to be kept out of EPA but now it has agreed to include it. With this sticky issue having been resolved negotiations will now be launched," official sources said.
Japan expects to gain agreement from India by the end of this year to start talks on a bilateral economic partnership agreement, a senior Foreign Ministry official said Wednesday.
A joint study group, which was set up during the Japanese Prime Minister Junichiro Koizumi's visit to India in 2005, has given the green signal for having a Comprehensive Economic Partnership Agreement (CEPA) between India and Japan.