Japan- India Policy Dialogue- third Ministerial held

INVC,,

News Delhi,,

During the third Ministerial meeting of the Japan-India Policy Dialogue
(JIPD) which was held here today, Mr. Naoshima Masayuki, the Japanese
Minister of Economy, Trade and Industry and Mr. Anand Sharma, the Indian
Minister of Commerce and Industry had extensive talks for establishing
broader and deeper bilateral economic relations, development of regional
economic cooperation in Asia and progressing WTO talks. A joint
statement that was issued is as below.

The two Ministers discussed the progress of the ongoing Comprehensive
Economic Partnership Agreement (CEPA) negotiation. The Ministers
instructed the negotiators to accelerate the negotiations and to solve
the remaining issues toward conclusion of a balanced and mutually
beneficial agreement at the earliest.

Difficulties faced by the Indian exporters for footwear products and
some agricultural products such as tea, coffee mangoes to Japan were
also discussed in the meeting.

Discussion on cooperation in High technology Trade and creation of
enabling conditions for encouraging business in high technology was also
held during the meeting.

The Ministers welcomed the Memorandum of Understanding(MoU) for
promotion of model “Smart Community” projects and expressed satisfaction
at the early launch of the initiatives that aimed at integrated
development of eco-friendly townships and industrial zones. The MoU was
concluded by consortia of Japanese companies represented by Toshiba
Corporation, Mitsubishi Heavy Industries, Hitachi and JGC Corporation,
Delhi Mumbai Industrial Corridor Development Corporation and Haryana
State Industrial & Infrastructure Development Corporation, Gujarat
Infrastructure Development Board and Maharashtra Infrastructure
Development Corporation.

The Ministers welcomed the opening of JETRO’s Chennai office and shared
the view that Southern India is an important area as gateway to rest of
Southeast Asia and expressed hope that it would promote investment from
Japan by contributing to improving business environment.

The Ministers recognized the importance of strengthening regional
cooperation toward East Asian economic integration. In this regard, the
Ministers agreed to immediately commence discussion among EAS Senior
Economic Officials on such issues as rules of origin, tariff
nomenclature, customs related issues and economic cooperation.

The Ministers appreciated ERIA’s research activities to deepen the
integration in East Asia and in particular looked forward to ERIA’s
report to ASEAN+6 Economic Ministers in Vietnam in August on
Comprehensive Asia Development Plan, which would contribute to better
connectivity in the region, mandated by the last East Asia Summit. The
Ministers also expressed expectation of ERIA’s further contribution in
providing policy recommendation for growth strategy for East Asia such
as developing infrastructure, expanding middle class, stimulating
consumer market and encouraging innovation.

The Ministers shared the view that a strong multilateral trade system
was vital for underpinning the recovery and ensuring future growth in
the world economy, and committed themselves to continue their
cooperation to achieve an ambitious, balanced and comprehensive
conclusion of the Doha Development Round as early as possible.

The Ministers recognized the important role played by the Ministerial
JIPD in promoting India-Japan economic engagement as a strategic
priority for both countries and looked forward to the next meeting which
would be convened in Tokyo in 2011.