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Japan And India Not Likely To Strike FTA Deal This Year

by Mary Swire, Tax-News.com, Hong Kong

21 October 2008


The pending Free Trade Agreement (FTA) between India and Japan is not likely to be endorsed this year, despite several promising rounds of negotiations on the matter.

The announcement was made on Monday by Japanese government officials in light of a recent conference which took place in New Delhi, with differences surrounding trade tariffs cited as as the main reason.

Talk of introducing a trade deal between the two countries began in January 2007, and it was hoped that an FTA could be negotiated and ratified within two years.

However, despite strong efforts to draw negotiations for the FTA to a close, it seems both parties will have to wait until next year.

Had negotiations been on track, it was hoped that the FTA would be sealed during Indian Prime Minister, Manmohan Singh's visit to Tokyo this week, where he will meet with the new Japanese PM, Taro Aso.

Further talks will be held between the two countries at the end of the week when they attend the Asian-Europe conference in China.


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