India, Japan stress on enhancing trade in goods and services, investments

In a joint statement issued on Wednesday after delegation-level talks here, Prime Ministers Shinto Abe and Dr. Manmohan Singh said that the Comprehensive Economic Partnership Agreement (CEPA) between their two countries has given a fillip to bilateral economic and trade relations, and stressed the importance of continued efforts to further enhance trade in goods and services as well as investments.

Expressing satisfaction with the successful holding of the second meeting of the joint committee as well as a series of sub-Committee meetings, Prime Minister Singh expressed his appreciation for Japan continued and unwavering support to India's development.

Prime Minister Abe reaffirmed that Japan would continue its Official Development Assistance at a substantial level to encourage India's efforts towards social and economic development, including in the area of infrastructure and human resource development.

The two Prime Ministers also welcomed the signing of the Exchange of Notes for 71 billion Yen for the "Mumbai Metro Line-III project", as well as the 353.106 billion Yen loan of fiscal year 2012 for eight projects.

Prime Minister Singh appreciated the pledge made by Prime Minister Abe for the second phase of the Campus Development Project of Indian Institute of Technology, Hyderabad, for 17.7 billion Yen and the "Tamil Nadu Investment Promotion Programme" for 13 billion Yen.

Both prime ministers also welcomed the signing of the agreement between India and Japan on social security in November 2012 and directed their relevant authorities in the governments to work towards its early entry into force.

They expressed hope that this agreement would contribute to further accelerating bilateral activities of private sectors.

According to the joint statement, Prime Minister Singh expressed concern on the issue of import of Indian shrimp by Japan and hoped that this issue would be resolved soon.

Both expressed satisfaction with the progress in cooperation of creative industries and welcomed the successful launch of the Indian Design Mark developed by the India Design Council and the Japan Institute of Design Promotion.