India, South Korea to expand political, security, trade ties

[JAYRAM]

Last updated on: March 25, 2012

India and South Korea on Sunday agreed to expand their political and security ties besides upgrading the already booming business cooperation to achieve an ambitious trade target of USD 40 billion (Rs 2,08,000 cr) by 2015, doubling the figure.

"We agreed to expand our political and security cooperation," Prime Minister Manmohan Singh said after his talks with President Lee Myung-bak in Seoul.

"With this objective in mind, I informed President Lee of India's decision to position a defence attache at our embassy here in Seoul before the end of the year," he said.

Noting that bilateral trade had risen by 65 per cent over the past two years since the implementation of the Comprehensive Economic Partnership Agreement, Singh said,

"President Lee and I agreed that our strong economic ties are fundamental to our growing interaction.

"We have therefore set a new target of USD 40 billion by 2015. We also agreed to accelerate work in progress to upgrade the agreement and make it more ambitious."

In a joint statement released after the talks, the two leaders expressed grave concern about the continued threat of terrorism and piracy, emanating from various quarters.

"The two leaders expressed the hope that the Comprehensive Convention on International Terrorism, which was under consideration at the UN, would be adopted soon," the joint statement said.

Singh and Lee also agreed to enhance cooperation and coordination on regional issues, including in the East Asia Summit process.

Singh arrived in Seoul on Saturday for a four-day visit to attend a Nuclear Security Summit. The two-day summit begins on Monday.

In the joint statement, the two leaders also agreed to explore constructive and forward looking ways to facilitate greater market access to each other's products and services.

Prime Minister Singh said that the Indian side was hopeful of providing Korea with pharmaceutical and agricultural products, as well as, IT enabled services.

They reiterated the pressing need for all countries and international financial institutions to work in tandem in order to overcome the crisis affecting each and every nation due to the "very difficult" global and financial situation.

Singh and Lee also agreed to step up consultations including those in the G20 process to enhance transparency and cooperation in both regional and global economic structures.

They underlined their strong commitment to the peaceful settlement of issues, without resorting to force or the threat of use of force, it said.

The two sides also agreed to continue high-level defence exchanges and "explore the possibilities of joint ventures in research and development, and manufacture of military equipment through the transfer of technology and co-production," it said.

As part of high-level defence exchanges, South Korean Defence Minister Kim Kwan-jin will visit India in the second half of the year in return for the 2010 visit by his Indian counterpart, the statement said.

On North Korea, Singh and Lee shared an understanding on the importance of maintaining peace and stability on the Korean Peninsula, including its denuclearisation, the statement said.

"Noting North Korea's announcement ... that it plans to launch the so-called 'application satellite,' they urged that nothing should be done which increases tensions in the region and violates the relevant UN Security Council resolutions," the statement said.

The two leaders also reaffirmed the importance of joint efforts at nuclear disarmament and nonproliferation of weapons of mass destruction and their delivery means, it said.


India, S Korea to expand political, security, trade ties - Rediff.com News

 

[JAYRAM]

India, South Korea to double bilateral trade to $40 bn by 2015

Indicative of a growing closeness, India and South Korea on Sunday aimed to double their annual trade to $40 billion by 2015, boosted military ties and eased visa norms to promote more business contacts.

"Bilateral trade has risen by 65 percent over the past two years since the implementation of our Comprehensive Economic Partnership Agreement. We have therefore set a new target of $40 billion by 2015," visiting Indian Prime Minister Manmohan Singh said at a joint media interaction with South Korean President Lee Myung Bak after their summit talks in Seoul.

"We also agreed to accelerate work in progress to upgrade the Agreement and make it more ambitious," added Manmohan Singh, who concluded his two-day official visit to South Korea that came ahead of the March 26-27 Nuclear Security Conference in Seoul.

This is Manmohan Singh's second visit to South Korea in two years. He was here in 2010 for the G-20 summit. Lee was the chief guest at India's Republic Day parade in 2010, while Indian President Pratibha Patil had visited Seoul last July, when the two countries signed an agreement on civil nuclear cooperation.

Manmohan Singh was accorded a ceremonial reception at the Blue House presidential palace, where, with a bone-chilling breeze blowing, he inspected a guard of honour made up of soldies dresed in contemporary and traditional uniforms and interacted with Indian and South Korean schoolchildren who enthusiastically waved flags of the two countries.

After the talks, Lee hosted a lunch for Manmohan Singh at the Blue House.

The talks, Manmohan Singh said, were "aimed at adding momentum and substance to our strategic partnership. Ours is a partnership built on shared values that provide a firm foundation for further development", adding the two leaders "agreed that our strong economic ties are fundamental to our growing interaction".

"I invited Korean firms to invest in India in a big way. Companies such as LG, Hyundai and Samsung are already household names in India. We would like to see small and medium sized Korean companies also making India a base for their manufacturing," the prime minister said.

"I informed President Lee that India is making a huge effort in upgrading our physical infrastructure. We want Korean companies to help us realize this objective and benefit from the opportunities provided by this," Manmohan Singh added.

Noting that the two countries had agreed to expand political and security cooperation, the prime minister said: "With this objective in mind, I informed President Lee of India's decision to position a defence attache at our embassy here in Seoul before the end of the year."

At a briefing later for the Indian media accompanying the prime minister, Sanjay Singh, secretary (east) in the external affairs ministry, asserted that these growing relations would not impact ties with China.

"Our relations with one country are not predicated on ties with other countries," he said.

Referring to South Korea hosting the Nuclear Security Summit, Manmohan Singh said he requested President Lee "for Korea's support to India's quest to join international regimes such as the Nuclear Suppliers Group, the Missile Technology Control Regime, the Australia Group and the Wassenaar Arrangement".

The two countries also expressed concern over North Korea's plans to launch an "application satellite" next month, saying nothing should be done to increase tensions in the region.

They also discussed ways and means to enhance cooperation between their scientists and technicians, including how to operationalize a joint Science and Technology Fund of $10 million.

"India has also offered to launch Korean satellites on Indian space launch vehicles," the prime minister said.

The Indian leader praised South Korea's transformation into a developed economy and said "Korean companies were among the first to respose confidence in India after we opened our economy in 1991. Many Korean brands are household names in India."

Since 2013 marks the 40th anniversary of the establishment of diplomatic relations between the two countries, "we agreed to celebrate this year in a befitting manner", Manmohan Singh said.

He also invited President Lee to visit India.

The visa agreement was signed by Sanjay Singh, secretary (east), in the Indian External Affairs Ministry and Kim Sung-han, the South Korean vice foreign minister.


India, South Korea to double bilateral trade to $40 bn by 2015 : Asia News - India Today

 

[JAYRAM]

Full text of India-Korea strategic partnership deal

New Delhi: Indian Prime Minister Manmohan Singh met South Korean President Lee Myung-Bak in Seoul on Sunday. The duo issued a joint statement post-meeting that said that the two leaders pledged to enhance cooperation in the peaceful uses of outer space as envisaged in the MoU on cooperation between the Indian Space Research Organisation (ISRO) and the Korea Aerospace Research Institute (KARI).

The full text of the deal

India - Republic of Korea Joint Statement : Deepening the Strategic Partnership

March 25, 2012

1. The Prime Minister of India, Dr. Manmohan Singh paid an Official Visit to the Republic of Korea (ROK), at the invitation of President Lee Myung-bak, on 25 March 2012. The Prime Minister of India, his spouse Shrimati Gursharan Kaur and the accompanying delegation were received with great warmth and accorded a ceremonial welcome at the Blue House. Prime Minister Singh held a restricted summit meeting with President Lee, followed by delegation level talks. Thereafter, a luncheon banquet was hosted by President Lee in honour of the visiting dignitary and his delegation.

2. During the summit meeting, Prime Minister Singh and President Lee conducted a thorough review of and hailed the multifaceted bilateral relationship, which has rapidly acquired greater depth and vitality since its elevation to a Strategic Partnership during the landmark State visit to India of President Lee in January 2010. They agreed that the State visit of President Shrimati Pratibha Devisingh Patil to the Republic of Korea in July 2011, had imparted further momentum to the engagement and dialogue process between the two countries. The two leaders expressed satisfaction at regular high-level exchanges, steadily growing economic, trade, security and cultural ties, as well as robust people-to-people exchanges. They examined ways to further enhance ties, underscoring the mutual convergence of interests and outlook between these two democracies of Asia.

3. The two leaders also held wide-ranging discussions on regional, international and multilateral issues. It was noted that India – Republic of Korea relations were of mutual advantage and were conducive to peace, progress and stability in our respective regions, in the whole of Asia and even beyond.

Strengthening Political and Security Cooperation

4. Prime Minister Singh and President Lee, appreciating the role of the India-ROK Joint Commission (JCM) co-chaired by the Foreign Minister and External Affairs Minister of the two countries, reaffirmed that the Commission meet every year, alternately in Seoul and New Delhi. It was also decided that the seventh meeting of the Joint Commission will be held in New Delhi at the earliest date this year.

5. The two leaders shared the view that the Foreign Policy & Security Dialogue (FPSD) at the level of Vice Foreign Minister, MOFAT and Secretary (East), MEA was a useful instrument to exchange views and harmonize positions on a vast variety of bilateral, regional and international issues. It was agreed to hold the next meeting of the FPSD soon within this year in New Delhi.

6. The two leaders expressed satisfaction at the strengthening bilateral cooperation in the areas of defense and security. Prime Minister Singh conveyed India's decision to set up a defense wing at the Embassy of India, Seoul within this year, which was welcomed by President Lee.

7. The two sides exchanged views on the prevailing complex security situation and underlined the need to actively pursue consultations and cooperation in the field of maritime safety and security both bilaterally and in association with other countries of the region.

8. The ROK side recalled the timely and useful visit of Defense Minister A K Antony in September 2010, which provided an excellent opportunity for both sides to exchange views on the entire range of defense and security issues. It was agreed that the Defense Minister of ROK would pay a return visit to India later this year.

9. Prime Minister Singh and President Lee also agreed to continue high-level exchanges between the defense establishments of both sides, undertake activities as mutually agreed for deepening bilateral defense relations and to explore the possibilities of joint ventures in research & development and manufacture of military equipment, including through the transfer of technology and co-production. President Lee underscored that the ROK side wanted to increase cooperation with India in military and defense industry including, inter alia, naval ships, aircrafts, and ship-building.

Expanding Economic and Trade Cooperation

10. Prime Minister Singh and President Lee noted with satisfaction that bilateral trade had increased by around 70 percent in two years since the entry into force of the India - ROK Comprehensive Economic Partnership Agreement (CEPA) on 1 January, 2010, crossing the $ 20 billion mark in 2011. A Joint Committee has already been instituted at the level of Trade/Commerce Ministers to regularly review the working of CEPA and upgrade it as and when required. The first meeting of the Joint Committee had taken place in New Delhi on 20th January 2011. It was agreed to have the second Ministerial Committee meeting in Seoul this year.

11. The two leaders agreed to set a new bilateral trade target of US$ 40 billion by 2015. Prime Minister Singh underlined the desirability of balanced trade relations, which would facilitate a robust growth rate in the long term. It was agreed that both sides would explore constructive and forward looking ways to facilitate greater market access to each other's products and services. Prime Minister Singh reiterated that the Indian side was hopeful of providing ROK with pharmaceutical and agricultural products, as well as, IT enabled services.

12. Prime Minister Singh apprised his host of India's efforts to strengthen the national infrastructure and plans to invest $ 1 trillion in infrastructure development between 2012-17. Noting the enviable track record of Korean companies in successfully executing infrastructure projects all over the globe, Prime Minister Singh invited them to actively participate in the construction projects for highways, ports, airports, metros and power plants being regularly launched in India. Prime Minister Singh pointed out that India followed a transparent and competitive bidding process, which was open to qualified companies from all countries.

13. Prime Minister Singh and President Lee welcomed the growing presence and investments of Korean companies in India and those of Indian companies in ROK, which had been stimulated by the bilateral CEPA. They also agreed to explore new possibilities for joint investment in third countries. The two leaders also reaffirmed the importance of implementing the POSCO project in the State of Odisha.

14. The two leaders welcomed the steady growth in travel between the two countries, reflective of enhanced business and people to people exchanges. They agreed to increase mutual efforts to further improve air connectivity between the two countries. It was also agreed to hold the next round of civil aviation talks at an early date, to examine various proposals on the table, including the increase of the capacity entitlements for the air carriers of the two countries, in a constructive and forward-looking spirit.

Enhancing Science and Technology Cooperation

15. Prime Minister Singh and President Lee welcomed the upgrading of the Joint Committee on Science and Technology to the ministerial level as a foundation for common growth. They noted that the $ 10 million joint R&D fund is being actively utilized for joint research projects, human resources exchanges, workshops, and other science and technology cooperation programs.

16. Both leaders pledged to enhance cooperation in the peaceful uses of outer space as envisaged in the MOU on cooperation between the Indian Space Research Organization (ISRO) and the Korea Aerospace Research Institute (KARI). The leaders noted that the technical experts from both sides met in Bangalore, India, in March 2011 and identified priority areas of cooperation. The Korean side welcomed India's participation in the RoK's international open bidding for launching Korean satellites. The two leaders proposed that the concerned agencies of both countries study the possible cooperation in future space activities including launching a nano-satellite developed by Korean students on an Indian launch vehicle.

17. Both leaders expressed satisfaction at the conclusion of a bilateral civil nuclear cooperation agreement during the State visit of the President of India to ROK in July 2011. Recognizing the criticality of non-polluting nuclear energy in the economic development of countries, they agreed to discuss specific items of cooperation with the ongoing review of the safety and security aspects of operating nuclear plants. President Lee requested that the Indian Government allocate a site for Korean nuclear reactors.

Promoting Culture, Education and People-to-People Exchanges

18. The two leaders expressed satisfaction at the successful organization of reciprocal year long cultural festivals in both countries during 2011. Prime Minister Singh and President Lee, decided that the 40th anniversary of the establishment of diplomatic relations between ROK and India in 2013, be celebrated in a befitting manner. Both sides will consult each other in developing a suitable calendar of events. President Lee welcomed the opening of an Indian Cultural Centre in Seoul in July 2011 and conveyed that the Korean Cultural Centre would be operational in New Delhi in the course of the year. Prime Minister Singh noted that the initiative would help the Indian people become more interested in the rich Korean culture and tradition.

19. The two leaders welcomed the growing educational and academic exchanges between the two countries. They agreed to promote tie-ups and exchanges between educational institutions of the two countries, with a view to increasing student exchanges in various areas including language, information technology, and science.

20. Prime Minister Singh and President Lee expressed a strong desire to see greater parliamentary exchanges between the two countries, which are amongst the two most vibrant democracies in the world.

21. Recognizing the critical role of the media in informing and shaping public opinion in democratic nations, Prime Minister Singh and President Lee also welcomed the MOU on media exchanges, concluded in July 2011 in Seoul. It was noted that the two countries would exchange media delegation in the second half of this year. They also agreed to facilitate institutional tie ups between media organizations of both countries to promote further exchange of content and journalists.

Furthering Cooperation in the International Arena

22. Prime Minister Singh and President Lee exchanged views on the global economic and financial situation, which continues to be very difficult. They reiterated the pressing need for all countries and international financial institutions to work in tandem in order to overcome the crisis affecting each and every nation. They agreed to step up consultations including those in the G20 process to enhance transparency and cooperation in both regional and global economic structures.

23. The two leaders also recognized the need for comprehensive UN reforms including Security Council expansion to make the body even more representative and effective. Prime Minister Singh emphasized India's aspirations for a greater role in the reformed UN Security Council. Both sides commended each other's roles and constructive contributions in promoting global peace, security and prosperity.

24. The two leaders exchanged views on the situation in their respective regions, as well as the Gulf, West Asia and North Africa, expressing concern at a number of flashpoints that could endanger peace and security in Asia and beyond. They underlined their strong commitment to the peaceful settlement of issues, without resorting to force or the threat of use of force.

25. The two leaders shared their views on the importance of maintaining peace and stability on the Korean Peninsula including its denuclearization. Noting North Korea's announcement made on March 16, 2012 that it plans to launch the so-called "application satellite", they urged that nothing should be done which increases tensions in the region and violates the relevant UN Security Council resolutions.

26. Prime Minister Singh and President Lee and expressed grave concern about the continued threat of terrorism and piracy, emanating from various quarters. The two leaders expressed the hope that the Comprehensive Convention on International Terrorism, which was under consideration at the UN, would be adopted soon. The two leaders pledged to enhance mutual cooperation including through information sharing.

27. The two leaders reiterated their common commitment to nuclear disarmament and the non-proliferation of weapons of mass destruction and their means of delivery. They attached importance to the Seoul Nuclear Security Summit in strengthening international efforts to address the challenge of nuclear terrorism. The Republic of Korea welcomed India's intention for future membership and active participation in the multilateral export control regimes with the objective of strengthening the international non-proliferation regime.

28. The two leaders agreed to expand cooperation and coordination between their countries within the East Asia Summit (EAS), which they acknowledged should continue to remain an ASEAN-led, open, transparent and inclusive structure. They welcomed the inclusion of the United States and the Russian Federation in the EAS.

29. The two leaders welcomed the commencement of a Trilateral India-ROK-Japan dialogue amongst think-tanks of the three countries, the first of which will be held in Delhi in 2012.

30. Prime Minister Singh informed President Lee of the rapid progress in the establishment of the new Nalanda University as a symbol of excellence in learning in a resurgent Asia. President Lee stated that ROK welcomed the progress in re-establishing this premier educational institution and would examine possible ways to contribute.

31. The two leaders welcomed the signing of the following agreement and MOU :

(i) Agreement on Simplification of Visa Procedures

(ii) MOU on Cooperation between KNDA (Korea National Diplomatic Academy) and FSI (Foreign Service Institute)

32. The two leaders welcomed regular bilateral high level visits, which have become a hallmark of the relationship and observed that the Official visit of the Prime Minister of India to the Republic of Korea would contribute immeasurably to deepening and expanding the Strategic Partnership between the two countries.

33. On behalf of the Government and the people of India, Prime Minister Dr. Manmohan Singh expressed gratitude to President Mr. Lee Myung-bak and the friendly people of the Republic of Korea for the warm and gracious hospitality accorded to him and his delegation. Prime Minister Singh extended a cordial invitation to the President of ROK to visit India at a mutually convenient time. The invitation was accepted with appreciation.

Seoul

25 March 2012

 

[JAYRAM]

Have faith in India, Manmohan tells Korean industry

Seoul, March 26, 2012

Prime Minister Manmohan Singh on Monday asked South Korean businessmen to help India expand its burgeoning solar and nuclear power sectors by investing in these environment-friendly technologies.

"We are committed to increasing energy efficiency and the share of renewables, including solar and nuclear power, in our energy mix," Dr. Singh told a group of top Korean CEOs here.

Among the CEOs present was Kim Joong-Kyum of the Korea Electric Power Corporation (KEPCO) which has interests in nuclear power that meets 45 per cent of Korea's electricity requirements.

"There will be large business opportunities and I am aware of Korean capabilities in environmentally friendly technologies," the Prime Minister said at a meeting organised by Korean industry chambers.

South Korean President Lee Myung-bak, during a bilateral meeting with Singh on Sunday, had requested that his country be allocated a site in India to build nuclear reactors.

Apparently sensing the concerns of the Korean businessmen with regard to the much-delayed $12 billion Posco steel project in Odisha, the Prime Minister told the CEOs that "our processes can be slow but there are effective mechanisms for resolution of problems and differences and a strong rule of law."

"The government is keen to move forward with the Posco project and there is some progress in this regard. I believe that India is a stable and profitable long-term investment opportunity," he said.

Korea, India's priority

Besides KEPCO, CEOs of Samsung Electronics, Tata Daewoo, Ssangyong Motors, Hyundai Motors and Doosan Heavy Industries were present at the meeting.

"Investment from Korea is a priority for India. We will take pro—active steps to address investor grievances and improve the business climate in the country," Dr. Singh said.

He said many states have been actively encouraging foreign investment and the Union Government will support these efforts.

"I urge Korean industry to have faith in India," Dr. Singh said.

He said India is also one of the fastest growing major economies of the world.

"Despite the adverse international environment, we have managed to maintain a growth rate of 7 per cent per annum in the last few years. I am confident that the strong fundamentals of our economy will help us return to a sustained growth path of about 8-10 per cent per annum in the coming years," he said.

Middle class growing

Dr. Singh said over the past few years the government has invested heavily in education, health and agriculture to give a new deal to rural India.

"Our rural markets are now booming and the middle class is growing rapidly," he said.

Dr. Singh said India has been undertaking a huge expansion in higher education and skill development, infrastructure of ports, airports, railways, energy and roads.

"India is poised to continue to be a frontline player in the global knowledge economy," he said.

Infrastructure development

Unveiling ambitious plans for the development of physical infrastructure, Dr. Singh said India was planning to secure investment of almost USD one trillion in the next five years in new projects in highways, power plants, mass transport systems, ports and airports.

"This will be achieved through both public and private investment and Public-Private Partnerships," he said.

He noted that after the implementation of the Comprehensive Economic Partnership Agreement (CEPA) in 2010, the bilateral trade has surged by roughly 65 per cent in two years and reached a turnover of USD 20.6 billion in 2011.

"However, it is still below its huge untapped potential," Dr. Singh said, adding the he and President Lee had decided to revise the bilateral trade target to USD 40 billion by 2015.

"This is a challenge as well as an opportunity that we must both seize together. I look forward to hearing your views," Dr. Singh said.


The Hindu : News / National : Have faith in India, Manmohan tells Korean industry

 

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In first foreign visit, Manohar Parrikar to push Korean firms to Make in India - The Economic Times

 

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