The 12th round of the India-Korea Comprehensive Economic Partnership Agreement (IK CEPA) upgrade negotiations was concluded in New Delhi. The negotiations were co-chaired by Joint Secretary in the Department of Commerce, Kapil Chaudhary, and Director General for Trade Agreement Policy, Ministry of Trade, Industry and Energy, Republic of Korea, Park Geun-oh.
The Ministry of Commerce and Industry said that during the meeting both sides reviewed the progress achieved so far in the IK CEPA upgrade negotiations. Both sides acknowledged India’s bilateral trade deficit, which has risen significantly since the IK CEPA came into force in 2010, and agreed to address the issue within the overall IK CEPA framework. The Ministry also said that it had decided to constitute sub-groups to discuss cooperation in the areas of digital trade, supply chain cooperation, and strategic industrial cooperation in the meeting.
