Korea-India needs to increase to trade volume

South Korea’s exports to India were US$11.6 billion in 2016, up about 50% since the signing of the Comprehensive Economic Partnership Agreement (CEPA), said Young Sam Kim, Additional Minister for Trade, Industry and Energy (MOTIE).

Enhanced cooperation in manufacturing and infrastructure was needed while cooperation in new areas should be explored to further boost bilateral ties, he said on 20 September 2017.

Korea and India need to tap each other’s potential optimally to increase the trade volume, added HaeKwang Lee, Chargé d’affaires, Embassy of Republic of Korea, in New Delhi.

With the Special Strategic Partnership (SSP) in place, the two nations needed to cooperate with a long-term vision to have a mutually beneficial partnership, he stressed.

Korea with its expertise in electronics and automobiles and India with the edge in software, ICT and R&D could exchange their respective knowledge and capabilities to expand business opportunities and promote economic cooperation, called Dr. Jaehong Kim, CEO & President, Korea Trade Investment Promotion Agency (KOTRA).

The Korean officials were speaking at the India-Korea Economic Cooperation Forum, which was organized by the Federation of Indian Chambers of Commerce and Industry and KOTRA. fii-news.com