The signing of Comprehensive Economic Partnership Agreement (CEPA), a free trade agreement between India and Korea, will boost economic co-operation between both countries said Do Youp Kwon, vice minister, ministry of land, transport and maritime affairs, Republic of Korea.
Korea and India are going to sign a free trade agreement called CEPA on 7 August, which will further boost bilateral trade between the two countries. "The economic co-operation between India and Korea has been constantly growing. The total trade between these two nations stood at US$ 15.6 billion last year, which is seven times higher than the volume of business registered in 2002", he told reporters today in state capital-Gandhinagar.
"After the signing of CEPA, economic co-operation between the two countries will sharply increase. Currently, 300 Korean companies are doing business in India. Post CEPA, the number will further rise", he hoped.
In order to leverage from the soon to be signed free agreement, Korean government seems to have started taking initiatives prior CEPA. Korea Land Corporation (KLC) today inked tripartite mamorandum of understanding with Gujarat government to set up Korea industrial park/technology zone in Gujarat. The park has been conceived in the backdrop of the free trade agreement.
"The proposed industrial complex will further enhance social co-operation between both the regions and development of human resource", he stated.
