VIENTIANE (LAOS): India and South Korea today reviewed their bilateral strategic partnership and discussed ways to boost cooperation in key areas including counter- terrorism and maritime security in the region.
Prime Minister Narendra Modi, who met South Korean President Park Geun-Hye in Vientiane on the sidelines of the East Asia Summit, together reviewed the Strategic Partnership which had been upgraded to a Special Strategic Partnership during the his visit to South Korea last year.
President Park appreciated the Korea Plus programme initiated by Modi and said it would lead to further investments in India by Korean firms, External Affairs Ministry spokesperson Vikas Swarup said.
The two leaders reviewed progress in the negotiations to improve India-ROK Comprehensive Economic Partnership Agreement (CEPA) besides discussing the USD 10 billion financial package announced by South Korea for India’s infrastructure development.
EXIM Banks of the two countries are discussing modalities for the utilisation of the package, Mr Swarup said.
The two leaders agreed that their shared commitment to democracy and free market economy, and complementary strengths made India and South Korea ideal partners.
President Park complimented PM Modi, saying the profile of India was rising due to the Prime Minister’s proactive leadership. She also complimented him on the success of India’s economic development strategy, which had led to 7 per cent plus growth rate despite the global slowdown, Mr Swarup said.
PM Modi described his visit to South Korea as “memorable” and invited President Park to visit India.