India, Japan decide to sort out issues concerning SEZ

New Delhi: India and Japan on Thursday resolved to sort out issues concerning special economic zones and joint procurement of gas from third countries.

The issues came up for discussion during the meeting of Commerce ad Industry Minister Nirmala Sitharaman and Japanese State Minister of Economy, Trade and Industry Kazuyoshi Akaba here.

The two leaders also discussed the issues which could be taken up during the visit of Prime Minister Narendra Modi to Japan.

"Japanese are very keen in the light of the forthcoming visit of the Prime Minister. So they want to sort out if there are any concerns," Sitharaman told reporters after the meeting.

She also said that the Japanese side raised issues related with SEZ, gas, end-user and transfer pricing.

"Both of us have agreed to work intensively at the officers and secretaries level. I am also keen in getting many things sorted out so that when the Prime Minister visits, we are able to have some deliverables," she said.

Japan is assisting India in the development of industrial corridors including Delhi-Mumbai Industrial Corridor.

The bilateral trade between the countries stood at USD 16.31 billion in 2013-14. India has received USD 16.58 billion foreign direct investment from Japan during April 2000 and May 2014.