Japan and India were due to sign a trade deal yesterday (Monday) seeking to cut import taxes on a range of goods and boost investment between the two countries, reports the Economic Times of India.
During a three-day visit to Japan, Indian Prime Minister Manmohan Singh was set to meet Japanese premier Naoto Kan and sign an economic partnership agreement, under which Tokyo will remove tariffs on 97 per cent of Indian imports and India will cut taxes on 90 per cent of Japanese imported goods.
Under the agreement, Japan will also improve market access for several Indian agricultural products, including durian. While India will allow greater access for Japanese yam, peach, strawberry and persimmon, the Economic Times said.
To take effect, the deal needs ratification by Japan's parliament, which could take place by the middle of next year, it added.
Japan and India reached a basic EPA agreement in September, nearly four years after starting negotiations in early 2007.
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