core sector communique

Joint Declaration between the Leaders of the Republic of India and Japan on the Conclusion of the Comprehensive Economic Partnership Agreement between the Republic of India and Japan

1. We, the Prime Minister of the Republic of India, Dr. Manmohan Singh, and the Prime Minister of Japan, Mr. Naoto Kan, held a meeting in Tokyo on 25 October 2010, and discussed the importance of a close and broad economic partnership between India and Japan.

2. Having confirmed the progress made thus far in our work, we now declare the successful conclusion of negotiations for the Comprehensive Economic Partnership Agreement between the Republic of India and Japan (hereinafter referred to as the India-Japan CEPA). We expressed our intention that the India-Japan CEPA will be signed at the earliest at Ministerial level, on completion of necessary formalities by both sides. We noted with satisfaction that India and Japan have succeeded in rendering the India-Japan CEPA truly comprehensive, as indicated by its name, by including fields that range from Trade in Goods, Investment, Trade in Services, and Movement of Natural Persons to Intellectual Property, Competition, Improvement of the Business Environment, Bilateral Cooperation and so forth. We also expressed our determination to put the India-Japan CEPA into effect soon after its signing and the completion of necessary procedures in each country.

3. The India-Japan CEPA will elevate the Strategic and Global Partnership between India and Japan to a new level. The India-Japan CEPA will develop areas of potential mutual complementarity, further strengthen the bilateral economic relationship, and promote economic development by increasing the cross-border flows of goods, persons, investment and services. It will also strengthen the foundation for the economic development of India and Japan through closer cooperation between the two countries in various fields. We hope that through the India-Japan CEPA’s implementation, India and Japan will be able to make maximum use of respective competitive advantages to promote the development of both economies. This will bring about increased prosperity and stability to the peoples of both countries, and thus, contribute to the peace and prosperity of the Asian region and the international community.

4. The India-Japan CEPA is also expected to foster new business opportunities, enhance competitiveness of the private sectors of both countries, and encourage closer partnership between those private sectors, from SMEs to infrastructure-related enterprises. We affirm the intention of the two Governments to support private sector efforts to fully utilize their potential.

5. We, representing the Governments and peoples of both Republic of India and Japan, in order to upgrade our Strategic and Global Partnership to a higher level for the mutual benefit of our citizens, and to lay a solid foundation for the peace, stability and prosperity of the two countries, the Asian region and the international community, hereby sign this document, affirming our firm determination to continue working for the further expansion and strengthening of the economic partnership between India and Japan.