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‘India a stakeholder in Korean peace’
News
- India and Republic of south Korea signed 11 MoUs and agreement between them during the visit of South Korean President Moon Jae-in
Important facts
- India praises the peace process of the Korean peninsula. It considers itself stakeholder and beneficiary of the Korean peninsula peace process.
- India and South Korea signed a joint statement agreeing to discuss an ‘early harvest’ package for the Comprehensive Economic Partnership Agreement (CEPA) aimed at identifying key areas for enhanced trade between the two countries
- Some additional agreement is on
- Trade remedies,
- Railway safety research,
- Cyber strategy, and
- Cultural exchanges
- The two countries also agreed to try to increase their bilateral trade to $50 billion by 2030, up from current levels of $20 billion.
- India and South Korea also signed a joint vision statement on for mutual benefit which includes
- Strategic ties in the region.
- Enhance military exchanges
- Training and experience-sharing, and
- Research and development including innovative technologies
- The vision statement also talks about encouraging Korean defence manufacturers to “Make in India”.
- Hanhwa Techwin, has partnered with Larsen and Toubro to produce K-9 Vajra artillery guns for the Indian Army at a factory near Pune.
- The bilateral vision document also committed to building a peaceful, stable, secure, free, open, inclusive and rules-based region based on 3Ps: People, Prosperity and Peace.
- Delhi and Seoul also agreed to collaborate on development projects in third countries, beginning with Afghanistan.
- Both the country likely to undertake capacity building programmes (training of personnel) in Afghanistan
- Both sides announced central roles for each other in India’s “Act East” policy and South Korea’s recently announced “New Southern” policy.
- India hopes to improve bilateral relation between India and south korea at the level of South Korea relation with U.S., China, Russia and Japan.
