India, S. Korea to expand trade and economic cooperation

NEW DELHI: India and South Korea have decided to hold talks on trade and economic cooperation between both the nations. South Korea will be sending a business delegation to India. From January 18-20, Korea-India business forum will be held here and it will be include 50 South Korean officials and also representatives from Samsung and Hyundai Motor.

The South Korean officials will be holding talks on a free trade pact 'comprehensive economic partnership agreement (CEPA)'. CEPA was implemented at the starting of this year.

The Federation of Korean Industries (FKI), states, “Trade between Korea and India increased 44.5 percent in 11 months since the CEPA was enacted last year, but there are still many issues that need to be addressed, such as the confusion arising from the various legal and tax systems of India's different states.”