Suresh Prabhu, Minister of Commerce and Industry and Civil Aviation and Mr. Kim Hyun-chong, the Minister for Trade, Industry and Energy, Republic of Korea, had a meeting over breakfast yesterday morning at the Commerce Minister’s residence in New Delhi. 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.
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The Ministers 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 yesterday.
