The 8th India-Republic of Korea Joint Commission Meeting was held in Seoul on 29 December 2014. The meeting was co-chaired was by Union External Minister of India Sushma Swaraj and Minister of Foreign Affairs of South Korea Yun Byung-se.
During the meeting, both the ministers held consultations on all aspects of bilateral ties to chart out a road map for further strengthening and deepening of strategic partnership of the both countries.
Highlights of the Meeting
• Both the countries comprehensively reviewed the development of bilateral relations and expressed their satisfaction at the steady expansion of bilateral ties.
• They highlighted the importance of high-level exchanges in imparting necessary momentum to the bilateral relationship.
• They agreed to consider the potentials for further expanding bilateral economic and investment cooperation.
• The two sides also discussed possibilities of addressing the trade deficit which is in favour of South Korea.
• Both countries also discussed the possibility of co-production of LNG (liquefied natural gas) tankers of South Korea with shipyards of India among the specific issues.
• India raised the need for a level playing field for Indian pharmaceuticals and software exports.
• Both the countries also agreed to step-up exchanges between officials and academics of the two sides.
• India invited South Korea to become an important partner of India in the Make in India initiative and Finance Minister of South Korea Yun agreed to encourage the South Korea’s industry to engage with India more closely.
• India invited F M Yun to visit India in 2015 for the 9th India-ROK Joint Commission Meeting
• President of South Korea Park Geun-hye reiterated the cordial invitation to Prime Minister Narendra Modi to visit South Korea which was welcomed by India.
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