Cooperation in civil nuclear field figured prominently in the meetings South Korean President Lee Myung-Bak had with Indian leaders here on Monday with the visiting dignitary describing such engagement as “productive” for both the countries.
Emphasising the expertise of his country in production and safety of civil nuclear projects, Mr. Lee, after his meeting with External Affairs Minister S.M. Krishna, said, “This is (civil nuclear) an area which will be very productive for both of us.”
South Korea, a member of the Nuclear Suppliers Group, had supported consensus for reopening global civil nuclear trade with India in September 2008.
Mr. Lee said the two leaders also discussed the crucial issue of climate change.
South Korea also has a competitive edge in sectors like IT and communication, he said at a luncheon meeting hosted by industry bodies CII, FICCI and Assocham.
“This is an area where I think we can have positive results if we cooperate,” he added.
India and South Korea operationalised the comprehensive economic partnership agreement (CEPA) encompassing trade in goods, services and investment from January 1.
The CEPA will not only enhance economic ties but also “upgrade and elevate” the relation between the two nations, the South Korean President said.
He also invited Indian companies to enhance their investment in his country.
Mr. Lee said that India and South Korea should also cooperate in cultural and education sectors.
Speaking on the occasion, Commerce and Industry Minister Anand Sharma expressed confidence that South Korean companies will increase investment in sectors like infrastructure.
Several South Korean companies like LG, Samsung, Hyundai have significant presence in India.
The bilateral trade between the countries stood at $13 billion in 2008-09.