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INDIA QUESTIONS JAPAN STRINGENT AND TIME CONSUMING REGULATORY REQUIREMENTS

At the 12th Trade Policy Review (TPR) of Japan, India raised specific concerns faced by its industry, particularly in the pharmaceutical and Information Technology (IT) sector of the Japanese market.

Brushing aside their strong trade and economic ties, Indian official stated at the meeting that stringent and time consuming regulatory requirements are creating a difficult situation for Indian companies to access the Japanese market. In particular, an official pointed at the requirement to have a joint venture with a Japanese company and the need of commercial presence for applying to Pharmaceuticals and Medical Devices Agency.

Further attention was drawn to the stringent requirements forchemical, agro-chemicals and additives for food products regarding maximum residue levels. India complaints with such requirements within the competitive industry those often end up as tertiary service providers despite their competitive strengths in this sector.

Cited that there are currently 16 investment agreements under negotiations, a senior Japanese trade official assured members that it is “committed” to further trade liberalization. The WTO further praised Japan for pursuing bold economic policies to revitalize its economy and reverse deflation including their “three arrows” strategy.

 

The gLAWcal Team

Wednesday, 11 March 2015

(Source: Live Mint)

This news has been realized by gLAWcal—Global Law Initiatives for Sustainable Development in collaboration with the University Institute of European Studies (IUSE) in Turin, Italy and the University of Piemonte Orientale, Novara, Italy which are both beneficiaries of the European Union Research Executive Agency IRSES Project “Liberalism in Between Europe And China” (LIBEAC) coordinated by Aix-Marseille University (CEPERC). This work has been realized in the framework of Workpackages 4, coordinated by University Institute of European Studies (IUSE) in Turin, Italy.