Minister Suresh Prabhu and Mr. Kim Hyun-chong, the Minister for Trade,
Industry and Energy, Republic of Korea, had a meeting over breakfast today
morning at the Commerce Ministerís residence in New Delhi on July ninth. The
Ministers reviewed the progress of India-Korea Comprehensive Economic Partnership
Agreement (CEPA) upgradation negotiations and had an extensive discussion on
trade and economic cooperation issues between the two countries.
shared the view that both countries should strive towards achieving additional
liberalization by upgrading CEPA in such a way that reflects the various
interests and sensitivities of each side. They agreed that both sides should
promote a favorable trade environment in which India and Korea may enjoy the
benefits under the India-Korea CEPA.
Both the Ministers
expressed their satisfaction on the signing of the Joint Statement on Early
Harvest Package in the India-Korea CEPA upgradation. In the last meeting held
in 2017, three deliverables were identified: early harvest package of CEPA,
forming futures strategy group to jointly harness fourth generation technology
and innovative products and trade remedies MOU. All three deliverables have
been realized today.