External Affairs Minister Sushma Swaraj on Sunday held talks with South Korea’s Minister of Trade, Industry and Energy here and discussed collaboration in vital areas like co-production of LNG tankers while making a strong pitch for the ‘ Make in India ’ campaign.
In pursuance of the government’s “Act East” policy, Ms. Swaraj arrived in Seoul on Sunday on a three-day visit to co-chair the 8th Joint Commission meeting on Monday with her South Korean counterpart Yun Byung-se which will take stock of an entire gamut of the bilateral relationship besides focusing on ways to enhance ties in a range of areas.
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Following her arrival, Ms. Swaraj met South Korea’s Minister of Trade, Industry and Energy Yoon Sang-jick, to seek Korean support for India’s flagship ‘Make in India’ programme.
Amongst the specific issues discussed was the possibility of Korean co-production of LNG tankers with Indian shipyards, official sources said.
Given the projected growth in Indian need for LNG, and that much of it will be imported, the government is considering both outright purchase as well as co-production of LNG tankers.
Ms. Swaraj made a strong pitch for South Korea’s partnership in this vital area of projected growth in Indian requirements.
Yoon indicated that while it is for the private companies to take business decisions, the South Korean government views India as an attractive business destination.
He said South Korea is encouraging its companies to avail the opportunities that have opened up in India following the new initiatives of Prime Minister Narendra Modi-led government.
Yoon mentioned that there are high expectations in South Korea to enhance economic ties with India, in light of recent developments in India, the sources said.
The two Ministers also discussed possibilities of addressing the trade deficit which is in favour of South Korea.
The External Affairs Minister raised the need for a level playing field for Indian pharmaceuticals and software exports.
The two sides agreed that the Ministers of Commerce could meet in the first quarter of 2015 to build on the momentum in the relations.
Ms. Swaraj is scheduled to meet President Park Guen-hye on Monday.
During her stay, Ms. Swaraj will also have meetings with Minister of National Defence, the National Security Advisor and leading Korean industrialists.
Ms. Swaraj’s delegation has representatives from ministries of Defence, Shipping, Commerce and Industry and Electronics.
India-South Korea Joint Commission for bilateral cooperation was established in February 1996, which is chaired by the External Affairs Minister and the Minister of Foreign Affairs from the Korean side.
So far, seven meetings of the Joint Commission have been held, the last being in November last year here.
In recent times, pointed efforts were made to scale up bilateral security and defence ties.
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