Friday, July 29, 2011

Korea and India vow to expand cooperation

President Lee Myung-bak and Indian President Pratibha Patil held a summit on July 25 at Cheong Wa Dae in Seoul to discuss ways to expand bilateral cooperation.

The two leaders agreed on the importance of Korea-India ties, which have substantially improved in a variety of sectors since the 2010 agreement to upgrade to a strategic partnership, including diplomacy, security, culture, economy and trade.

Lee and Patil agreed to work to increase the effects of the Korea-India Comprehensive Economic Partnership Agreement (CEPA), which took effect on January 1, 2010 by reflecting on the trade environment of the two countries.

The two leaders signed a nuclear energy cooperation pact, which will allow Korean atomic power firms to enter India’s nuclear energy market.

They also signed a memorandum of understanding on media exchanges and cooperation between Korea and India.

The two leaders also agreed to closely cooperate on key international issues like climate change, and expressed hopes a successful Nuclear Security Summit in Seoul in March 2012.

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