(Image source from: dailyexcelsior.com)

An issue was raised on the trade deficit between India and Japan by the trade ministers of the two countries on Tuesday and took up the review of the Comprehensive Economic Partnership Agreement, before the meeting of Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe next week.

“Market access for India’s goods and services with partner countries is very important but despite commitments in CEPA from Japan, market access for India’s goods and services remains elusive,” Commerce and Industry Minister Piyush Goyal conveyed to Japanese Trade and Industry Minister Hiroshi Kajiyama in an hour-long meeting.

The issue of trade deficit between India and Japan and review of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries was raised by Goyal, based on an official statement.

"Commerce and Industry Minister informed the Minister of Economy, Trade and Industry of Japan that balancing trade is a high priority for India with all partners. Similarly, market access for India's goods and services with partner countries is very important but despite commitments in CEPA from Japan, market access for India's goods and services remains elusive," the Commerce Ministry statement said.

The officials of both the countries were tasked by their officials to prepare a time-bound action plan to address all these issue in order to strengthen the trade relations between India and Japan. Prior to the meeting between Modi and Abe in Guwahati on December 16, Goyal and Hiroshi Kajiyama met here.

By Shrithika Kushangi