New Delhi, Sept 21 (KNN) Eyeing at increased investments and commerce between the two countries, South Korea has made a fresh case advocating for the widening of Free Trade Agreement (FTA) with India.

Young Sam Kim, South Korean Deputy Minister for Trade, Industry and Energy emphasized the need to expand cooperation in different sector including manufacturing and infrastructure.

The Minister said that his country at present hosts the best global technology in the manufacturing sector and if India collaborates along that line, it will help boost the country’s flagship project of Make in India and also help India build its smart cities.

Kim said that for both the countries, the way forward must be to expand two-way trade and investment both in terms of quantity as well as quality and this could be possible only if India and South Korea work towards broadening the FTA pact.

Highlighting the positive relations so far, the Minister said that CEPA has achieved remarkable numbers in terms of the overall bilateral trade volume.  

Kim said both the countries can look at early conclusion of the negotiations for the review of the CEPA. Two rounds of negotiations have already been concluded. For the third round of talks, Indian delegation led by commerce and industry minister Suresh Prabhu will visit Korea. The agreement between the two countries was implemented in January 2010.

Kim made these remarks addressing media at an interaction event - Federation of Indian Chambers of Commerce & Industry’s (FICCI) India-S Korea Economic Cooperation Forum in New Delhi. (KNN/DA)