Japan and India sign a bilateral economic partnership accord

Japan and India signed a bilateral economic partnership agreement Wednesday that will strengthen ties with the fast-growing South Asian market of 1.15 billion people.

The EPA will remove tariffs on 94 percent of the bilateral total trade in terms of value, which was about ¥900 billion in 2009, within 10 years.

Foreign Minister Seiji Maehara and Indian Commerce Minister Anand Sharma signed the agreement in Tokyo, making India the 12th country to sign a free-trade agreement with Japan.

At the ceremony, Maehara expressed hope that the newly signed agreement will "promote a strategic partnership between the two countries so that they can establish win-win relations and achieve growth.

Read the rest of the story: India inks economic partnership accord.

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