Business

India, Japan to ‘work hard’ on CEPA

TOKYO: Drawing a line under their failure to bridge existing differences between the two sides on a draft Comprehensive Economic Partnership Agreement, India and Japan on Tuesday ‘expressed satisfaction’ at the progress made so far and urged their negotiators “to work hard towards finding a mutually acceptable solution to the remaining issues.” Among the areas where differences remain are agriculture and pharmaceuticals, where Japan is resisting Indian demands for market access.

In a joint statement issued here by Commerce Minister Kamal Nath and Nikai Toshihro, Japan’s Minister of Economy, Trade and Industry, the two countries also said that the early conclusion of the WTO’s Doha round negotiations was vital for the maintenance and development of the international trade system. The two ministers welcomed the ‘substantive progress’ achieved for the establishment of a Project Development Fund (PDF) for the promotion of the Delhi-Mumbai Industrial Corridor (DMIC) project.

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