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National News

Dec 19, 2018

India, S Korea to raise bilateral trade to 50 billion dollars by 2030

India on Wednesday reiterated its continued support to usher in a new era of peace and stability in the Korean peninsula. 

External Affairs Minister Sushma Swaraj said, India and South Korea also shared the view that terrorism in all its forms and manifestations is a global scourge and resolved to combat it through coordinated regional and global efforts. 

In a joint media address with Foreign Affairs Minister of Korea Ms. Kang Kyung-wha, Mrs Swaraj said, she and Ms. Kang also exchanged views on regional and global issues of common interest. 

Mrs Swaraj conveyed to Ms. Kang that India sees the Republic of Korea as an indispensable partner in its Act East policy and in its vision of the Indo-Pacific.

Both sides agreed to raise the quantum of the bilateral trade to 50 billion dollars by the year 2030. 

She said, an early conclusion of ongoing negotiations to upgrade the bilateral Comprehensive Economic Partnership Agreement, CEPA,  and implementation of trade facilitation measures already agreed upon will help us move towards this target.

India and South Korea also explored new avenues of Korean investment in India’s infrastructure modernization. 

In her address, Foreign Affairs Minister of Korea Ms. Kang Kyung-wha said, the situation in the Korean Peninsula was discussed between her and Mrs Swaraj. She said, the two sides also agreed to improve people-to-people contacts. 

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