South Korea & India agree to forge CEPA by end of this year
13 Apr '07
3 min read
South Korea and India agreeing to forge the CEPA by the end of this year; the bilateral trade is expected to rise to US$10 billion by 2008. Liberalization of goods under the CEPA would bring about an overall increase in trade flow between the two economies and promote further inter-industry trade.
India's cost effective human resources will compliment the rising wages and labour scarcity in South Korea, said Mr.Subodh Bhargava, Past President – CII and Chairman VSNL. India 's competencies in pharmaceuticals and research in bio-nano technology will ensure emergence of new healthcare devices and medicine utilising the bio-diversity of both the countries, he mentioned.
Mr Bhargava said that there is a potential for fruitful exchanges between two countries in the knowledge driven economy, manufacturing, infrastructure, science and technology. The long term partnership will be mutually rewarding, he added.
During the interaction, some of the major Indian companies including IDFC, Sify and Hyundai Motors made presentations to Mr Lee on the business opportunities in India in the growing sectors of Infrastructure, IT and Auto.
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