Thursday, 15 November, 2018

India, Japan Begin Negotiations Over Military Base Sharing Agreement

China's Premier Li Keqiang shakes hands with Japan's Prime Minister Shinzo Abe at the start of their bilateral talks in Tokyo READ MOREChina-Japan relations flourish in'new era of friendship: experts
Charlie Simmons | 30 October, 2018, 10:06

As Prime Minister Narendra Modi wrapped up his fifth summit with his counterpart, Shinzo Abe, India and Japan concluded a $75-billion bilateral currency swap agreement, a move meant to bring greater stability to the rupee and capital markets in India.

On the economic front, Modi seeks Japanese technology and investment to fulfill the promise of his "Make in India" brand, while Abe seeks to expand Japan's role both as a business partner and as a player in regional infrastructure development at a time when China is aggressively promoting its Belt and Road Initiative.

Modi and Abe said that there is a need for stronger worldwide partnership in countering terrorism and violent extremism and called upon all countries to work towards rooting out terrorist safe havens and infrastructure, disrupting terrorist networks and financing channels, and halting cross-border movement of terrorists.

They also signed a second-phase agreement for a Japanese high-speed railway project in India.

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Abe and Modi welcomed joint exercises by their ground, sea and air forces and the start of negotiations toward an acquisition and cross-servicing agreement, or ACSA, which would enable sharing of supplies and ammunition between the two militaries as a way to "enhance the strategic depth of bilateral security and defense cooperation".

"It is clear that there won't be a century of Asia without cooperation between India and Japan".

"The two leaders reaffirmed their shared commitment to the total elimination of nuclear weapons and remained resolute in the task of strengthening global cooperation to address the challenges of nuclear proliferation and nuclear terrorism", the statement said. Modi applauded Japan's contributions to several important industrial projects in India, adding that India's rising economy, fast growing middle class and young demography offersmany new opportunities to Japanese investors. He arrived Saturday and was invited to Abe's vacation house near Mount Fuji on Sunday for private talks. "I have been told that today Japan investors have announced that they will invest 2.5 billion United States dollars in India", he said at the joint briefing. The Prime Minister also urged people to participate in the largest possible numbers in the run for unity to be organized on that day. The special reception was the first for any foreign leader to have visited Japan. The Prime Minister said, Indian Sports are witnessing an upswing with each passing day and India is setting new records not just in the field of sports but also in hitherto uncharted areas. The Indian PM is one of the 18 persons Abe follows on Twitter.

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