The changing East Asia architecture, strengthening the bilateral economic and trade ties and bringing verve to the ongoing discussions for a nuclear cooperation pact will form part of the agenda when Prime Minister Manmohan Singh meets his Japanese counterpart Yoshihiko Noda at the annual summit on Sunday.
Ahead of the visit, both sides are also finalsing a currency swap agreement that would help rupee, one of the worst-performing Asian currencies, at a time when Japan has a record foreign exchange reserve of $1.3 billion.
“The details of the arrangement are with the finance ministries and prime ministers of the two countries,” joint secretary for East Asia in the external affairs ministry Guatam Bambawatle said.
This will be Noda’s first visit to India.
“In accordance with the intensive engagement that characterises the bilateral relationship, Singh and Noda are expected to discuss various bilateral, regional and global issues,” said MEA spokesperson-designate Syed Akbaruddin told reporters here on Monday.
Civil nuclear cooperation, trade and investment, maritime security, counter-terrorism, anti-piracy cooperation, UN reforms and evolving East Asia architecture will be among the key issues to be discussed. The summit is taking place days after the India-Japan-US dialogue with focus on East Asia and the rise of China.
“The two leaders are expected to make nuclear negotiations,” Bambawale said.
While agreeing that the Fukushima nuclear accident had a negative impact on the nuclear negotiations, he said both sides even continued with their informal discussions.
During his talks with external affairs minister SM Krishna in Tokyo in October 2011, Japanese foreign minister Koichiro Gemba had conveyed Tokyo’s readiness to resume nuclear talks. Enhancing trade and investment will be another area of talks. Ahead of the visit, India called for more Japanese investment across the spectrum.