India-Japan closer economic partnership
In a far-reaching strategic move, India and Japan signed the much-awaited comprehensive economic partnership agreement (CEPA) on 16 February. Under this agreement, India agreed to remove tariffs on 94 per cent of good over the next 10 years. The deal will facilitate trade growth and enable both parties to reach the target of US$25 billion worth bilateral trade by 2014 from its present US$10.3 billion. This deal has special significance. Barring a similar deal with Singapore and South Korea, this is the first trade deal India has signed with a major industrial country. (East Asia Forum)
In a far-reaching strategic move, India and Japan signed the much-awaited comprehensive economic partnership agreement (CEPA) on 16 February. Under this agreement, India agreed to remove tariffs on 94 per cent of good over the next 10 years. The deal will facilitate trade growth and enable both parties to reach the target of US$25 billion worth bilateral trade by 2014 from its present US$10.3 billion. This deal has special significance. Barring a similar deal with Singapore and South Korea, this is the first trade deal India has signed with a major industrial country. (East Asia Forum)
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