Free trade to take place between Japan and India

Louisville News.Net
Thursday 9th September, 2010

Japan and India have decided to sign a free trade agreement in order to scrap tariffs on 94 percent of traded goods.

The tariff scrapping will take place over a period of 10 years under an agreement signed between Indian and Japanese foreign ministry officials.

While the agreement has been reached, it will not be ratified until the two countries resign the agreement in October when Indian Prime Minister Manmohan Singh is expected to visit Japan.

Tokyo had asked New Delhi to cut tariffs on Japanese vehicles, while India wants Japan to import more generic drugs and allow more Indian workers into Japan.

Have your say on this story