Monday, November 29, 1999

Indo-S Korea talks to explore civilian nuclear deal today

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India and Republic of South Korea will explore possibilities of having a bilateral civilian nuclear deal and chalk out plans to achieve a $30-billion trade when the foreign ministers of the two countries hold talks in Seoul on Friday.During his three-day visit to that country starting Thursday, external affairs minister SM Krishna will hold the sixth meeting of the joint commission with his South Korean counterpart Yu Myung-hwan on a wide range of issues, including expansion of economic, defence and cultural ties between the two countries. Briefing mediapersons ahead of the visit, external affairs ministry spokesperson Vishnu Prakash said that ''Some agreements are likely to be concluded after the talks and that the visit'' will give a new momentum ''to the strategic partnership between the two countries.''According to Prakash, South Korea is also one of our key investment partners. In fact, S Korean investments are already the 7th largest. There are about 300 S Korean firms operating in India like Hyundai, Daewoo, LG, Samsung, etc., and they are employing more than 40,000 workers.To give a further boost to our relations, especially to garner greater access for our services in S Korea, a Comprehensive Economic Partnership Agreement (CEPA) was signed in August 2009 and was operationalised in January this year. This is only the second CEPA that has been signed and the first with an OECD country.

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