President Park Geun-hye held summit talks with Indian Prime Minister Narendra Modi on November 12 in Naypyidaw, Myanmar, to discuss measures to strengthen the strategic partnership between the two nations and to improve bilateral economic cooperation.
President Park said that she is well aware of Prime Minister Modi’s aggressive policy since his inauguration in May this year to attract foreign investment into India to improve economic development. Mentioning large-scale industrial infrastructure projects, the president said that she hopes India can further develop its economy, backed by his leadership.
Prime Minister Modi responded that he has been interested in Korea’s economic development since he served as chief minister of Gujarat from 2001 to 2014. The Indian leader hoped that the Korea-Indian relationship will develop further in the future.
President Park asked the Indian prime minister to pay a state visit to Korea next year, and Modi expressed his gratitude for her invitation.
Park said the Agreement on the Protection of Classified Military Information, which Korea and India signed during her India state visit this past January, laid the foundation for cooperation on national defense and in the defense sectors of the two countries. She called for the Indian government to take an interest in and to cooperate on the extended participation of Korean enterprises in the Indian defense industry. President Park hoped that the ongoing construction of an industrial complex for Korean firms in Rajasthan can finish soon so that more Korean firms could participate in Prime Minister Modi’s “Make in India” campaign, which focuses on improving the corporate environment and on inducing more foreign investment.
President Park asked the Indian leader to take an interest in Korean companies' participation in large-scale construction projects, such as railroads, the Ganges River purification project and the construction of smartcities. In response, Prime Minister Modi welcomed Korean firms’ investment.
Park proposed holding minister-level joint negotiations to improve the Comprehensive Economic Partnership Agreement (CEPA) between the two countries. She also called for the Indian leader to take an interest in the revision of the Double Taxation Avoidance Agreement. In regard to POSCO’s large steel project in Odisha, the president asked the Indian prime minister to take an interest in solving procedural matters, including mine exploration rights.
Prime Minister Modi agreed with the revision of the Korea-India CEPA and to host a joint negotiation committee. He also expressed his strong support for the POSCO project, vowing to make an effort to solve the associated issues.
President Park told the Indian leader that Korea’s advanced technology in coal and gas technology, combined with India’s vast amount of coal, which ranks fifth in the world in terms of coal deposits, will create great synergies. She proposed joint cooperation on the coal and gas sector. She also proposed cooperation on the solar and nuclear energy sectors by holding joint committee meetings on a regular basis. Modi agreed with her and said he will take cooperation measures, while mentioning the need to cooperate on related sectors and on new technologies, such as clean energy.
In regard to issues surrounding the Korean Peninsula, President Park asked her Indian counterpart for India’s continuous support and cooperation on the denuclearization of North Korea and for Seoul’s policy toward a peaceful reunification. The Indian leader expressed his active support for a nuclear-free Korean Peninsula, the resumption of six-party talks and for U.N. resolutions on issues involving the Korean Peninsula and the North Korean nuclear weapons program.
By Yoon Sojung
Korea.net Staff Writer
Photos: Cheong Wa Dae
arete@korea.kr
President Park said that she is well aware of Prime Minister Modi’s aggressive policy since his inauguration in May this year to attract foreign investment into India to improve economic development. Mentioning large-scale industrial infrastructure projects, the president said that she hopes India can further develop its economy, backed by his leadership.
Prime Minister Modi responded that he has been interested in Korea’s economic development since he served as chief minister of Gujarat from 2001 to 2014. The Indian leader hoped that the Korea-Indian relationship will develop further in the future.
President Park Geun-hye (right) poses for a photo with Indian Prime Minister Narendra Modi prior to the Korea-India summit on November 12 in Naypyidaw, Myanmar.
President Park Geun-hye and Indian Prime Minister Narendra Modi hold the Korea-India summit on November 12 in Naypyidaw, Myanmar.
President Park asked the Indian prime minister to pay a state visit to Korea next year, and Modi expressed his gratitude for her invitation.
Park said the Agreement on the Protection of Classified Military Information, which Korea and India signed during her India state visit this past January, laid the foundation for cooperation on national defense and in the defense sectors of the two countries. She called for the Indian government to take an interest in and to cooperate on the extended participation of Korean enterprises in the Indian defense industry. President Park hoped that the ongoing construction of an industrial complex for Korean firms in Rajasthan can finish soon so that more Korean firms could participate in Prime Minister Modi’s “Make in India” campaign, which focuses on improving the corporate environment and on inducing more foreign investment.
President Park asked the Indian leader to take an interest in Korean companies' participation in large-scale construction projects, such as railroads, the Ganges River purification project and the construction of smartcities. In response, Prime Minister Modi welcomed Korean firms’ investment.
Park proposed holding minister-level joint negotiations to improve the Comprehensive Economic Partnership Agreement (CEPA) between the two countries. She also called for the Indian leader to take an interest in the revision of the Double Taxation Avoidance Agreement. In regard to POSCO’s large steel project in Odisha, the president asked the Indian prime minister to take an interest in solving procedural matters, including mine exploration rights.
Prime Minister Modi agreed with the revision of the Korea-India CEPA and to host a joint negotiation committee. He also expressed his strong support for the POSCO project, vowing to make an effort to solve the associated issues.
President Park told the Indian leader that Korea’s advanced technology in coal and gas technology, combined with India’s vast amount of coal, which ranks fifth in the world in terms of coal deposits, will create great synergies. She proposed joint cooperation on the coal and gas sector. She also proposed cooperation on the solar and nuclear energy sectors by holding joint committee meetings on a regular basis. Modi agreed with her and said he will take cooperation measures, while mentioning the need to cooperate on related sectors and on new technologies, such as clean energy.
In regard to issues surrounding the Korean Peninsula, President Park asked her Indian counterpart for India’s continuous support and cooperation on the denuclearization of North Korea and for Seoul’s policy toward a peaceful reunification. The Indian leader expressed his active support for a nuclear-free Korean Peninsula, the resumption of six-party talks and for U.N. resolutions on issues involving the Korean Peninsula and the North Korean nuclear weapons program.
By Yoon Sojung
Korea.net Staff Writer
Photos: Cheong Wa Dae
arete@korea.kr
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