12th Round Of India-Korea CEPA Upgrade Negotiations Concludes

New Delhi, May 28 (KNN) India and South Korea have reaffirmed their commitment to fast-track the upgrade negotiations of the India-Korea Comprehensive Economic Partnership Agreement (IK CEPA), with the 12th round of talks concluding in New Delhi from May 25-27, 2026.

The negotiations were held pursuant to the Joint Declaration signed on April 20, 2026, by Union Commerce and Industry Minister Piyush Goyal and Korean Trade Minister Yeo Han-koo during the State Visit of the President of South Korea to India.

India, South Korea Review Progress In CEPA Upgrade Discussions

The latest round of negotiations was co-chaired by Kapil Chaudhary, Joint Secretary, Department of Commerce, and Park Geun-oh, Director General, Trade Agreement Policy, South Korea’s Ministry of Trade, Industry and Energy (MOTIE).

Both sides reviewed the progress achieved so far in the CEPA upgrade discussions and described the negotiations as constructive and cooperative, reflecting the growing strategic partnership between the two countries.

The discussions were aligned with the ‘Futuristic Partnership’ vision articulated by Prime Minister Narendra Modi and South Korean President Lee Jae-myung.

Trade Deficit, Market Access Key Focus Areas In Talks

India and South Korea also acknowledged concerns regarding India’s widening bilateral trade deficit since the original IK CEPA came into force in 2010.

Both countries agreed to address the trade imbalance within the broader framework of the CEPA upgrade negotiations.

During the current round, negotiations focused on key areas including Trade in Goods, Trade in Services, Rules of Origin and Origin Procedures, Investment, and Sanitary and Phytosanitary standards.

Dedicated Sub-Groups To Focus On Digital Trade, Supply Chains

The two sides also decided to establish dedicated sub-groups for discussions on digital trade, supply chain cooperation, and strategic industrial cooperation.

India and South Korea reiterated their intention to conclude the CEPA upgrade negotiations in a time-bound manner with the objective of creating a modernised and mutually beneficial agreement that promotes balanced bilateral trade and deeper economic cooperation.

(KNN Bureau)