Saturday, 23 October 2010


India and Japan close to sign economic agreement to build stronger relations

  • Saturday, 23 October 2010
  • Pradeep Kumar
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  • Finally the time has come, Japan is India's close friend, but we haven't expanded our relations. Now, the two countries are expanding their economic ties in big way. tIn recent meetings, The two sides have concluded negotiations on the Comprehensive Economic Partnership Agreement, which will be announced during the visit of Prime Minister Dr. Manmohan Singh to Tokyo on the first leg of his three-nation Asia tour beginning Sunday. We know that, Japan can play a bigger role in the economic expansion of Asian countries. Foreign secretary Niupama Rao said the agreement signifies the economic alignment of the two largest economies in Asia. She said the agreement will be signed after certain internal processes are completed in Japan. still, the agreement is not signed, and waiting for the go ahead.

    This agreement between India and Japan will lead to a marked increase in the business and economic ties of the two nations and it is win-win proposition for both, at least for India. Some other documents are also expected to be signed to give a further impetus to their cooperation.This agreement is also a part of India's look east policy. Those who aren't aware of India's Look East policy, as India being a part of Asia, dint have developed his relations with most of the Asian countries, specially the Eastern countries, which are growing very fast. The Prime Minister’s visit to Japan, Malaysia and Vietnam aimed at giving a further impetus to India’s Look East Policy. As these ASEAN countries plays an important role in Asia's economy.

    India is also looking for Japans cooperation on the Civil Nuclear Energy. Also, both the two sides intend to take the discussions forward and there is a political resolve from both sides to continue their discussions to build a more common ground. This was revealed by Nirupma Rao in a Press Conference, she also said that the first two rounds of discussions have covered a lot of common ground.

    The Prime Minister will have extensive discussions with his Japanese counterpart Naoto Kan at their annual summit slated for Monday. Major infrastructure development projects in India including the Dedicated Freight Corridor and Delhi-Mumbai Industrial Corridor, bilateral security cooperation as well as High Technology Trade and Energy Cooperation including renewable and civil nuclear energy are expected to come up for discussions.

    India and Malaysia are likely to announce the conclusion of negotiations on the bilateral Comprehensive Economic Cooperation Agreement on goods services and investment during Prime Minister visit on the second leg of his tour. The two sides are also expected to sign about half a dozen agreements to boost cooperation in other areas. They will focus on the key areas of IT infrastructure, health and medicines by technology and energy.

    The Prime Minister will take part in the 8th India-ASEAN summit and 5th East Asia Summits in Hanoi, Vietnam on the final leg of his tour. Dr. Manmohan Singh will also have talks with his Chinese counterpart and other leaders on the bilateral front.

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