Korean President Park Geun-hye shakes hands with Indian Prime 

Minister Manmohan Singh on Jan. 16 during their summit talks in New 

Delhi. (photo: Cheong Wa Dae)

President Park Geun-hye held summit talks with Indian Prime Minister Manmohan Singh on Jan. 16 in New Delhi and agreed to develop the bilateral strategic partnership in a substantive, concrete manner. 

In a joint statement issued following the summit, the two leaders recognized that the two countries have made advancements in the bilateral relationship since the establishment of diplomatic ties in 1973, which have served to enhance the progress and prosperity of both countries. In order to further develop ties for the next four decades, the leaders presented a common vision with three elements: “A stronger, high level of political cooperation, an open economic and trade environment, and deeper cultural understanding.” 

At the press conference after the summit, President Park said with confidence, “Since the two countries share a strategic partnership, we discussed ways to promote substantial win-win development. The joint statement will present a future blueprint for our bilateral relationship.”

Indian Prime Minister Singh stressed the economic cooperation between Korea and India. President Park asked for the prime minister’s interest and support so that Korean enterprises will be able to more easily take part in Indian infrastructure projects, such as road and railroad construction. 

In regard to business cooperation and trade, the two leaders discussed a future roadmap for long-term cooperation. They agreed to share their experiences in business cooperation across a wide range of areas. 

The leaders shared the common understanding that the Comprehensive Economic Partnership Agreement (CEPA) has contributed to boosting trade and investment between the two countries. They reaffirmed the need to increase trade in goods and services as well as investment through the upgrading of the CEPA. In this regard, both leaders agreed to make an all-out effort to complete the process as soon as possible and to hold a ministerial meeting between trade ministers around the first of the year in Seoul. 

They also agreed to take necessary measures to put the revised Double Taxation Avoidance Agreement into effect as early as possible. Both leaders welcomed progress in the POSCO project in the state of Odisha, including the acquisition of land, a prospecting license, and the revalidation of the environmental clearance. The two leaders agreed to cooperate on the successful implementation of the project. Prime Minister Singh said he welcomes Korean companies’ participation in infrastructure projects, such as electric power plants and railway construction. 

Both countries agreed to revise the ROK-India Air Service Agreement in order to extend people-to-people exchanges through increased flights. Currently, Korea and India exchange a total of 10 flights a week, including four cargo flights. Upon President Park’s state visit to India, the country decided to provide tourist visa-on-arrival facilities to Korean citizens. 

Korea, Switzerland Ink Trade, Tech Pacts

South Korean President Park Geun-hye and Swiss President Didier Burkhalter held talks in Bern on Jan. 20 and agreed to cement bilateral ties in trade, science, technology, and industrial innovation.

Following the summit, the two heads of state participated in a ceremony to sign an MOU that calls for joint efforts to make a foray into other countries and for recognition of social security credits for workers from partner countries. The two countries also agreed to elevate investment conditions to help promote mutual business cooperation and boost exchanges between research institutions and science colleges of each country.