india and south korea target doubling trade to $50bn by 2030
New Delhi, April 21 -- India and South Korea on Monday agreed to start negotiations to upgrade their comprehensive evaluation partnership pact against the backdrop of increasing trade disruptions in view of geopolitical upheavals.
The two sides announced the decision following talks between Prime Minister Narendra Modi and South Korean President Lee Jae Myung.
News agency Reuters reported that both sides made a commitment to expand cooperation in energy, critical minerals, shipbuilding, semiconductors and steel sectors as they seek to double their trade to $50 billion by 2030. They also agreed to resume and step up negotiations to give new energy to their 2010 trade agreement.
The two sides also resolved to work together to ensure peace and stability in the Indo-Pacific region. "Following President Lee's visit, we are going to transform our trusted collaboration into a futuristic partnership," Modi said after the talks.
Lee is in India for a three-day visit, the first South Korean presidential state visit to the country in eight years.
"We decided to upgrade the framework of economic cooperation between the two countries to create a new engine for shared growth," he told reporters after talks.P4...
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