SME Times News Bureau | 06 Jan, 2011
India is likely to sign two major trade pacts with Japan and Malaysia in February, a commerce ministry official reportedly said on Wednesday.
Commerce and Industry Minister Anand Sharma is expected to visit Tokyo and Kuala Lumpur between February 14 and 18 for signing the pacts - Comprehensive Economic Partnership Agreement (CEPA) with Japan and Comprehensive Economic Cooperation Agreement (CECA) with Malaysia, the official was quoted by a news agency report.
"Formalities for signing these agreements have been completed," the official said.
The agreements are aimed at reducing or eliminating tariffs over 90 per cent of the goods traded between the countries. Besides, they include opening of trade in services- an area of particular interest to India.
A framework pact with Malaysia was finalised during Prime Minister Manmohan Singh?s visit to Malaysia in October 2010.