Sushma Swaraj in South Korea; holds talks with trade minister

New Delhi(PTI): External Affairs Minister Sushma Swaraj on Sunday held talks with South Korea’s Minister of Trade, Industry and Energy in Seoul and discussed collaboration in vital areas like co-production of LNG tankers while making a strong pitch for the ‘Make in India’ campaign.

In pursuance of the government’s “Act East” policy, Swaraj arrived in Seoul in South Korea on a three-day visit to co-chair the 8th Joint Commission meeting on Monday with her South Korean counterpart Yun Byung-se which will take stock of an entire gamut of the bilateral relationship besides focusing on ways to enhance ties in a range of areas.

Following her arrival, Swaraj met South Korea’s Minister of Trade, Industry and Energy Yoon Sang-jick, to seek Korean support for India’s flagship ‘Make in India’ programme. Amongst the specific issues discussed was the possibility of Korean co-production of LNG tankers with Indian shipyards, official sources said.

Given the projected growth in Indian need for LNG, and that much of it will be imported, the government is considering both outright purchase as well as co-production of LNG tankers. Swaraj made a strong pitch for South Korea’s partnership in this vital area of projected growth in Indian requirements.

Yoon indicated that while it is for the private companies to take business decisions, the South Korean government views India as an attractive business destination. He said South Korea is encouraging its companies to avail the opportunities that have opened up in India following the new initiatives of Prime Minister Narendra Modi-led government.

Yoon mentioned that there are high expectations in South Korea to enhance economic ties with India, in light of recent developments in India, the sources said. The two Ministers also discussed possibilities of addressing the trade deficit which is in favour of South Korea.

The External Affairs Minister raised the need for a level playing field for Indian pharmaceuticals and software exports. The two sides agreed that the Ministers of Commerce could meet in the first quarter of 2015 to build on the momentum in the relations. Swaraj is scheduled to meet President Park Guen-hye on Monday.

Posted by on December 28, 2014. Filed under Nation. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.