India, South Korea aim to double trade in 5 years
February 22nd, 2011 - 8:08 pm ICT by IANSNew Delhi, Feb 22 (IANS) India and South Korea target doubling bilateral trade to $24 billion in five years as their recent economic pact liberalised tariff regime, Commerce and Industry Minister Anand Sharma said Tuesday. “In 2009-10, our bilateral trade was $11.99 billion. We hope the two-way trade will double in the next five years,” Sharma said after meeting South Korean Vice Minister of Knowledge Economy Park Young June here.
He said the comprehensive economic partnership agreement (CEPA) signed recently would unlock complementary strengths and boost trade and investment flows between the two countries.
India and South Korea signed a comprehensive economic partnership agreement in August 2009. The agreement came into force from Jan 1, 2010.
“CEPA will create business opportunities for Korean companies and would simultaneously provide opportunities to Indian professionals from software, engineering, finance and telecommunication sectors to participate and contribute to South Korea’s services sector,” he said.
He urged South Korea to provide greater market access to Indian infotech companies.
- India, South Korea target doubling trade by 2014 - Jan 20, 2011
- 'India not gaining from trade pact with South Korea' - Jun 24, 2011
- India, Korea trade set to double in next five years - Feb 22, 2011
- India, Japan implement economic pact; aim to double trade (Lead) - Aug 01, 2011
- CII welcomes India-Japan comprehensive economic partnership agreement - Feb 16, 2011
- India-Japan economic pact comes into force - Aug 01, 2011
- India to sign CEPA with Japan on Feb.16, CECA with Malaysia - Feb 10, 2011
- India-Korea trade target of 30 billion dollars to be achieved by 2014: Anand Sharma - Jan 20, 2011
- India, Japan aim for $25 bn trade by 2014 (Lead, changing dateline) - Feb 16, 2011
- India to negotiate free trade agreements with Indonesia, Thailand soon - Oct 28, 2010
- South Korean Parliament ratifies free trade deal with India - Nov 06, 2009
- U.S.-Korean joint military drill announced during Antony's Seoul visit - Sep 03, 2010
- India-Thailand FTA by middle of 2012 - Jan 25, 2012
- India, South Africa CEOs seek removal of trade barriers - Aug 29, 2011
- PM in Seoul next week for n-security summit - Mar 21, 2012
Tags: anand sharma, bilateral trade, complementary strengths, economic partnership agreement, economy park, india south, indian professionals, industry minister, infotech companies, investment flows, knowledge economy, korean companies, market access, next five years, south korea, south korean, target, tariff regime, telecommunication sectors, vice minister