Minister for Commerce and Industry Suresh Prabhu has arrived in the Republic of Korea, to participate in the 7th Asia-Europe (ASEM) Economic Ministers meeting and the 3rd Joint Ministerial Review of the India-Korea Comprehensive Economic Partnership Agreement (CEPA). During the 7th ASEM meeting on Friday, Mr Prabhu reiterated India’s commitment to promoting free and fair world trade, while emphasising the challenges that lay ahead in ensuring free and fair trade as embodied in the WTO. He commended ASEM for addressing global issues of common interest in the spirit of mutual respect and equal partnership.
The Minister also underlined the emergence of India as one of the world’s leading investment destination. On the sidelines of this meeting, the Commerce and Industry Minister had deliberations with Minister of State for Economy and Finance of France Benjamin Griveaux; State Secretary of the Ministry of Trade, Industry and Fisheries of Norway Dilek Ayhan; State Secretary for Trade, Ministry of Foreign Affairs of Denmark Susanne Hyldelund and DG of the Ministry of Industry & Economy of Spain Jose Louis Kaiser Moreiras. Later in the day, he met Chairman of Korea’s ruling Democratic Party ChooMi-ae and discussed the rapid progress in bilateral ties since the inauguration of President Moon Jae-in’s administration in May 2017.
Ms Choo highlighted the importance attached by President Moon to the bilateral relationship with India and his commitment to elevate it to the next level. Calling India a shining star in the global economy, the Korean politician noted that the “elephant was outperforming the dragon”. Later, Mr Prabhu met Bang Sang-hoon, Chairman and CEO of Korea’s most influential media house, the Chosun Ilbo. He discussed with the CEO, bilateral economic ties, and to consider hosting the next India-Korea Business Summit at an early date, focusing on sectors which would energize the bilateral trade relationship. Mr Prabhu met the senior leadership of top Korean industries, including Samsung, Kia motors, Lotte, Kumho-Asiana, Hyundai Electric, Posco, LS Group, Toray Chemicals, CJ Logistics and Tongyang Moolsang, on his arrival day.