The Comprehensive Economic Partnership Agreement (CEPA) between India and Japan is a bilateral trade agreement that has been in effect since 2011. The agreement aims to promote trade and investment activities between the two countries, with specific areas of focus including goods and services trade, investment, and intellectual property.
One of the key features of the India-Japan CEPA is the reduction or elimination of tariffs on a wide range of products. In particular, the agreement seeks to eliminate tariffs on 94% of Indian exports to Japan and 97% of Japanese exports to India. This will help to boost trade between the two countries, as businesses will be able to import and export goods at a lower cost.
In addition to the reduction of tariffs, the CEPA also includes provisions for the protection of intellectual property rights. This includes the establishment of a framework for the protection and enforcement of patents, trademarks, and copyrights. The agreement also includes provisions for the protection of confidential business information and trade secrets.
Another important aspect of the India-Japan CEPA is the promotion of investment between the two countries. The agreement provides for the liberalization of investment policies and the protection of investments by Indian and Japanese companies in each other`s countries. This is intended to encourage greater investment flows and support economic growth in both India and Japan.
Overall, the India-Japan CEPA represents an important step forward in bilateral trade and investment relations. The agreement provides a framework for increased trade and investment activities, while also protecting the intellectual property rights of businesses in both countries. As India and Japan continue to establish closer economic ties, the CEPA is likely to play an increasingly important role in driving economic growth and development in both countries.