India has urged Japan to remove all non-tariff barriers to enable the benefits under the comprehensive economic partnership agreement (CEPA) to kick in and said Indian drug companies are well positioned to meet the needs of the Japanese market.
Commerce, industry and textiles minister Anand Sharma told his Japanese counterpart that India's share is less than 1% of the total Japanese market and Tokyo may examine the need to expand the share of generic medicines, sources said. The minister also urged the Japanese delegation to start negotiations on nursing and healthcare professional services soon as the move would benefit both countries, the sources added.
Commerce, industry and textiles minister Anand Sharma told his Japanese counterpart that India's share is less than 1% of the total Japanese market and Tokyo may examine the need to expand the share of generic medicines, sources said. The minister also urged the Japanese delegation to start negotiations on nursing and healthcare professional services soon as the move would benefit both countries, the sources added.
Sharma also said the government had agreed to supply 2 million tonnes of iron ore per year to Japan under an existing long-term pact. The minister said CEPA, which came into force from August 1, 2011, is an important milestone in the trade and economic relations between the two countries and bilateral trade had increased by 38% during 2011-12 as compared to 2010-11. He said if the trend is sustained, bilateral trade will cross $24 billion by March, 2013, and the target of $25 billion would be achieved next year.
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