Bilateral trade with India in mutual interest: Prez Moon
South Korean President Moon Jae-in on Monday called for expansion of bilateral trade with India, saying it was in the interest of both nations.
Addressing the India-Korea Business Forum here, Moon hoped that upgrade of the Comprehensive Economic Partnership Agreement (CEPA) and Regional Comprehensive Economic Partnership (RCEP) agreement negotiations can be “concluded as early as possible”.
“India and South Korea are the world’s 7th and 11th largest economies. However, trade between the two countries came to ~20 billion last year, which is not small but far short of our expectations,” Moon said at the forum attended by around 400 top business leaders from both countries.
Commerce and industry minister Suresh Prabhu said he has held discussion on the ‘Early Harvest’ under CEPA with his Korean counterpart Kim HyunChong. Prabhu said the two
NEW DELHI:
nations have decided to take their relationship to the new level. The two ministers on Monday signed the joint statement on the Early Harvest package in the India-Korea CEPA upgradation, according to an official statement.
Stressing India and Korea can lead the fourth industrial revolution, Moon said an MoU will be signed on Tuesday for establishing Future Vision Technology Group to boost bilateral ties in science and technology.