September 9, 2010

1. Japan and India reached an agreement in negotiations on the Japan-India Economic Partnership Agreement (EPA).

2. Since 2007, Japan has been conducting negotiations aimed at concluding an EPA with India, in consideration that strengthening the economic relations between Japan and India and the continuing strong economic growth of India is important for the growth of both countries and even that of Asia. Since the beginning of this year, Japan has been making intense negotiation efforts, such as sending ministers, including myself, to India.

3. This EPA is a comprehensive agreement that encompasses a broad range of fields, including high-level liberalization of trade in goods between Japan and India. Believing that the EPA will help both the Indian economy and the Japanese economy and companies grow together, I highly welcome this agreement.

4. I also expect that the agreement in the EPA negotiations will encourage us to forge further ahead with the Comprehensive Economic Partnership in East Asia (CEPEA) pursued by ASEAN+6.

5. I believe that the agreement has laid the groundwork for concluding the EPA during Prime Minister Manmohan Singh’s visit to Japan, which is slated for this autumn. The Ministry of Economy, Trade and Industry (METI) will continue its utmost efforts to conclude the Japan-India EPA and to have it enter into force as soon as possible.

Asia and Pacific Division, Trade Policy Bureau