India and South Korea today evaluated the progress in and expansion of the India-South Korea Strategic Partnership over the past year and decided, among other things, to accelerate work on upgrading their Comprehensive Economic Partnership Agreement (CEPA) to ensure that it reflects current realities.
The two sides also reviewed the status of bilateral relations and exchanged views on regional and global issues of interest, including the situation on the Korean peninsula, at the 2nd India – Republic of Korea (ROK) Foreign Policy and Security Dialogue here.
The Indian side to the talks was led by Mr Sanjay Singh, Secretary (East), Ministry of External Affairs and the Korean side by Mr. Ahn Ho-young, First Vice Minister, Ministry of Foreign Affairs and Trade.
An official press release said both sides agreed that the official visit to South Korea by Prime Minister Manmohan Singh earlier this year in March had provided greater momentum and thrust to their ties.
The two sides reviewed the status of bilateral relations and exchanged views on regional and global issues of interest including the situation on the Korean Peninsula. The Minister of National Defence and the Minister of Foreign Affairs of South Korea are likely to visit India later this year.
The two sides noted with satisfaction that in the two years since the implementation of CEPA, bilateral trade has surged by 70% to $ 20.5 billion in calendar 2011. The two sides welcomed recent progress in the implementation of the POSCO project in eastern India. In view of the large Korean business presence in Tamil Nadu, South Korea expressed interest in opening a new Consulate General in Chennai.
The Korean side welcomed India’s decision to open a new Defence Attache’s Office at its Embassy in Seoul before the end of the year. Both sides agreed that the joint naval exercises between the navies of the two countries recently held off the coast of South Korea had proved useful.
Enhancement of cooperation in the field of science & technology was also discussed. In this context, the two sides decided to encourage enhanced engagement in civil nuclear energy cooperation as well as space activities including the launch of Korean satellites by India.
The two sides exchanged views on the Asia-Pacific region including enhanced cooperation and coordination between them. They agreed to work closely together in the East Asia Summit as well as in the ASEAN Regional Forum and the ADMM Plus. Both sides held the common view that regional institutions must be open, inclusive and transparent.
The leader of the South Koreandelegation called on Minister of State for External Affairs E. Ahamed.
The two sides agreed to hold their 3rd Foreign Policy and Security Dialogue in Seoul at a mutually convenient, early date, the release added.
New Delhi, June 28 (IANS) Seeking to upgrade their bilateral ties, India and South Korea Thursday decided to step up cooperation in the areas of civil nuclear energy and space, including the launch of Korean satellites by India.
The two sides also reviewed the progress and expansion of their strategic partnership during their second foreign policy and security dialogue here.
The Indian delegation was led by Sanjay Singh, secretary (east) in the external affairs ministry, while the Korean side was led by Ahn Ho-young, first vice minister in the ministry of foreign affairs and trade.
"Enhancement of cooperation in the field of science and technology was also discussed," said the external affairs ministry.
"In this context, the two sides decided to encourage enhanced engagement in civil nuclear energy cooperation as well as space activities, including the launch of Korean satellites by India," the ministry said.
They also discussed a cluster of regional and global issues, including the situation on the Korean Peninsula.
The minister of national defence and the minister of foreign affairs of Korea were likely to visit India later this year, the ministry said.
The two countries also agreed to accelerate work on upgrading their comprehensive economic partnership agreement (CEPA) with a view to ensuring that it reflected current realities.
Bilateral trade has surged by 70 percent to $20.5 billion in 2011 since the implementation of the CEPA two years ago.
In view of the large Korean business presence in Tamil Nadu, South Korea expressed interest in opening a new consulate general in Chennai while welcoming India's decision to open a new defence attache's Office at its embassy in Seoul before the end of the year.
Looking east big time. SK is a developed country and india has a lot to learn and gain from them. SK companies are well entrenched in Indian market. The growing strategic relationship will help a lot in the future.