The Hindu Business Line : JETRO moots setting up of research institute

Bangalore, July 8 Japan External Trade Organisation (JETRO) has mooted the setting up of an Economic Research Institute for Asean and East Asia (ERIA) that will work in closer cooperation with each other for facilitating smoother trade and business among themselves.

Manila meet

India has been invited for a meeting slated on August 23 in Manila.

The meeting will discuss the details of ERIA and its location in Asean.

A final shape of the proposal is likely to be announced at a meeting to be held in Singapore in December.

ERIA will study aspects of East Asian economic integration, said Mr Yasuo Hayashi, Chairman and CEO of JETRO.

The Asean countries and the six nations — Japan, China, India, South Korea, New Zealand and Australia — could have better and stronger economic ties if they had regular exchange of information on their economies.

Mr Hayashi said in view of the region emerging as strong economies, it would become necessary for the countries to have clearer understand of each others’ policy perspectives, particularly when bilateral free trade agreements were sought to be established.

Industrial corridor

Mr Hayashi said JETRO had suggested to the Karnataka Government the setting up of an industrial corridor between Bangalore and Chennai on the lines of the Delhi-Mumbai Industrial Corridor, creating industrial clusters with dedicated freight railway, ports and industrial estates.

However, in view of paucity of land in Bangalore, Karnataka officials wanted the corridor to be planned on Mysore, Bangalore-Chennai axis to leverage Mysore’s land availability.

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