India Finalizes Free Trade Pact with Japan

By admin • September 27th, 2010

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India has finalised a bilateral trade pact with Japan without having to fully commit on opening government purchases to foreign companies and without agreeing to tighter intellectual property rules. The agreement is to be signed during Prime Minister Manmohan Singh’s visit to Tokyo next month.

India has not negotiated a deal on opening government purchases to foreign companies or tighter intellectual property rules as it will affect India’s small industry as well as farmers. It was these issues which had slowed down the agreement of this bilateral trade pact.

The agreement will open up the Japanese markets for Indian manufacturers mainly in the product categories, as Japan will uphold its high tariffs on farm products only. The fact that India has held its ground on key issues for this pact, it shows that India will not be forced into making obligations which may not benefit the Indian economy.

India did not agree to Japan’s demand for intellectual property rules, as it could affect its generic drugs producers and affect the availability of low cost medicines.

International Government Affairs &Corporate Relations Consultants for Emerging Markets

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