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Shri Kamal Nath, Minister of Commerce and Industry, called on the Prime Minister of Japan, Mr. Junichiro Koizumi, at his residence in Tokyo yesterday morning and had a very cordial meeting with the Japanese Prime Minister which lasted about 40 minutes. During the discussions, Mr. Koizumi indicated Japan’s support for India on the United Nations Security Council (UNSC) and said that both Japan and India should become permanent members of the UNSC, while underlining the need for reform of the UN.
Shri Kamal Nath said the purpose of his visit to Japan at the head of a large Indian business delegation was to apprise Japanese business community of the tremendous economic progress made by India in the last decade and a half. In this context, Shri Nath urged the Japanese government for supportive signals to promote inflows of Japanese investment into India. He also proposed a limited agreement on agriculture between the two countries covering products of export interest as means of reversing the continuing stagnating trend in India’s trade with Japan and boosting two-way trade on a mutually beneficial basis, especially India’s agro exports to Japan. He said India and Japan could be the major drivers of economic development in the Asian region. The two countries should also work together in the World Trade Organisation (WTO), he said.
Mr. Koizumi said the time was now right to push Indo-Japan bilateral trade. Describing India as a country of immense possibilities, Mr. Koizumi said he was looking forward to his forthcoming visit to Japan later this month. As two major economic powers Japan and India could contribute significantly to the trade and economic development of Asia, he added.
SB/MRS
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