10 July 2018

India, South Korea Ink 11 MoUs

India, South Korea Ink 11 MoUs


India and South Korea signed 11 Memorandum of Understandings (MOUs) during South Korean President Moon Jae-in's visit to India. The 11 MoUs signed between the two countries are: 

1. Upgraded Comprehensive Economic Partnership Agreement (CEPA) was signed to facilitate ongoing negotiations on upgrading the India-RoK (Republic of Korea) CEPA by identifying key areas for trade liberalization (including shrimp, molluscs and processed fish).

2. An MoU on trade remedies was signed for cooperation in the area of trade remedies such as anti-dumping, subsidy, countervailing and safeguard measures through consultations and exchange of information.

3. An MoU on future strategy group was inked for cooperation in the development of cutting-edge technologies for commercialisation to reap the benefits of the fourth industrial revolution.

4. An agreement on a cultural exchange programme for the period 2018-2022 was signed to deepen cultural and people-to-people relations by providing for institutionalised cooperation in fields of music and dance, theatre, art exhibitions, archives, anthropology, mass media programmes and museum exhibits.

5. An MoU on cooperation in the field of scientific and technological research between Council for Scientific and Industrial Research (CSIR) and National Research Council of Science and Technology (NST) was signed.

6. An MoU on cooperation between Research Design and Standards Organization (RDSO) and Korea Railroad Research Institute (KRRI) was signed for cooperation in railway research, exchange of railway-related experience and development of railway industries.

7. An MoU on cooperation in the field of biotechnology and bio-economics was signed for cooperation in the adoption of biotechnology and bio big-data in health, medicine, agro fishery products.

8. An MoU on cooperation in the field of ICT and telecommunications was signed for cooperation in development, modernisation and expansion of state-of-the-art telecommunication/ICT services and next-generation wireless communication networks.

9. An MoU on cooperation in the field of Micro, Small and Medium Enterprises (MSMEs) between India and RoK was signed between the National Small Industries Corporation of India and the Small and Medium Business Corporation (SBC) of South Korea. 

10. An MoU on Queen Suriratna memorial project was signed to facilitate upgradation and expansion of the existing monument commemorating Princess Suriratna (Queen Hur Hwang-ok), a legendary Princess of Ayodhya, who went to Korea in AD 48 and married King Kim-Suro.

11. An MoU between the Gujarat government and Korea Trade Promotion Agency (KOTRA) was inked to enhance industrial and investment relations between South Korean companies and Gujarat. KOTRA shall open an office in Ahmedabad and will become one of the partner organisations for the Vibrant Gujarat Global Summit 2019.

Source- ANI News

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