New Delhi: India and Japan today (Feb 1, 2007) formallylaunched negotiations for a comprehensive economic partnership agreement,covering areas like trade in goods and services as well as investment.

 The negotiations are a follow up of recommendations made bya joint working group set up by Prime Minister Manmohan Singh and his thenJapanese counterpart Junichiro Koizumi here in Apr 2005.

The agenda includes a framework agreement and its scope andmodalities in areas like trade in merchandise goods and services, besidesbilateral investment.

While Commerce Secretary G.K. Pillai leads the Indian sideat the talks, the Japanese Deputy Minister for Foreign Affairs is heading hiscountry's team.

Both sides are also keen to push up bilateral trade. India's exports to Japan in 2005-06 were $2.4 billionand imports $3.5 billion.

Major Indian exports are gems and jewellery, iron ore andmarine products while major imports from Japan include machinery, electronicgoods and iron and steel.