India, South Korea sign agreements on trade and commerce

16:18 | 10/07/2018 Global Economy

Minister of External affairs, Sushma Swaraj called on visiting President of Republic of Korea, Moon Jae-in and held discussion with him.   

India, South Korea sign agreements on trade and commerce - Photo: Twitter @MEAIndia

The South Korean President is currently on a three-day visit to India, having arrived in New Delhi on Sunday evening. He and his wife, Kim Jung-sook, were received by Minister of State (MoS) for External Affairs General (retd) VK Singh.

President Moon will next visit the Gandhi Smriti with Prime Minister Narendra Modi, from where the two leaders will head to a Samsung plant in Noida. Moon is also scheduled to attend the India-Korea Business Forum later in the day.

On July 10, he will be accorded a ceremonial reception at the Rashtrapati Bhawan.

Union Industries Minister Suresh Prabhu and South Korean Trade Minister Kim Hyun-Chong signed agreements on trade and commerce.

"Trade and commerce will play their own roles in taking bilateral relations between both the countries forward. We are going to take this relationship to a new level. We had a fruitful and forward looking discussion, some ideas have come to forward while some will work in progress," Prabhu told media here.

Earlier today, both the ministers began their meeting with breakfast, after which the agreements were discussed and signed.

Meanwhile, Hyun-Chong highlighted on the Samsung plant in Noida and said that the site would produce almost 10 million units of mobile phones in the coming years.

"Keeping with Prime Minister Narendra Modi's 'Make in India' policy, the first step was taken today, both the leaders (South Korean President and Prime Minister Modi) will visit Samsung's manufacturing site which will be producing 10 million units of mobile phones per month by 2020," Hyun-Chong told media here.

On a related note, South Korean President Moon Jae-in and Prime Minister Narendra Modi will visit a Samsung plant in Noida, Uttar Pradesh later today.

Prime Minister Modi, meanwhile, will also hold official talks with the South Korean President at Hyderabad House later in the day.

Theo Newindianexpress