Qa'dah 17, 1431, Oct 25, 2010, SPA -- The leaders of India and Japan signed a sweeping agreement Monday to boost trade and agreed to speed up talks toward a civilian nuclear energy deal. Prime Minister Naoto Kan called the conclusion of nearly 4-year negotiations on the economic partnership agreement a «historic achievement.» The deal, which needs to be ratified by Japan's parliament to come into force, slashes tariffs on goods from auto parts to bonsai plants and introduces measures to promote investment and deal with intellectual property rights. Despite the size of their economies, Japan and India have had limited trade, which totaled 636 billion yen, or about $7.7 billion, for the first six months of the year, just 1 percent of Japan's global trade. Trade with China, Japan's top partner, totaled $176 billion over the same period, according to a report of the Associated Press. Kan and Singh also agreed to speed up talks toward a civilian nuclear cooperation deal that would allow Japanese companies to export nuclear power generation technology and related equipment to India _ a boost to Japan's flagging economy. The two leaders also signed a Memo of Understanding on visa simplification aimed at increasing tourism and educational exchanges.
