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Korea Set to Sign CEPA with India

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Korea Set to Sign CEPA with India
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저작자 미상 (저작물 2267374 건)
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KOGL 출처표시, 상업적, 비상업적 이용가능, 변형 등 2차적 저작물 작성 가능(새창열림)
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2006-02-07
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In other news‚ Korea and India have been working to expand their economic ties‚ since President Roh Moo-hyun's state visit to the South Asian country two years ago.
And today in Seoul‚ President Roh met with Indian President Abdul Kalam‚ to set the groundwork for a bilateral cooperation deal.
Sung Tae-kyung with more.
President Roh Moo-hyun met with visiting Indian President Abdul Kalam on Tuesday‚ and promised to seek bilateral cooperation‚ especially in the energy‚ trade‚ science and technology sectors.
The summit‚ during which the two leaders signed a Memorandum of Understanding or MOU for cooperation in science and technology‚ was followed by a welcoming dinner by President Roh.
The first by an Indian head of state Mr. Kalam's visit to Korea carries economic significance in that the two countries are pushing for talks on a Comprehensive Economic Partnership Agreement.
CEPA is a form of Free Trade Agreement‚ in which countries focus on opening of markets‚ not just in commodities‚ but in investment and services as well.
Korea‚ Asia's third largest economy is a key investor in India's automobile‚ electronics and steel sectors.
India‚ one of the world's fastest growing economies‚ and the second most populated is an important trade partner for Korea in textiles‚ mineral resources and agricultural products.
The two countries are hoping to complete CEPA talks by the end of 2007.
The Korean delegates will fly to New Delhi in March for the first round of negotiations with their Indian partners.
During his three-day stay‚ Mr. Kalam will also visit major chambers of commerce in the country.
"After 33 years of diplomatic ties‚ Korea and India are getting ready to sign a free trade agreement. The countries expect two way volume of trade to double by 2008‚ to some 10 billion U.S. dollars.
Sung Tae-kyung‚ Arirang News." Reporter : tksung@arirang.co.kr
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