Issues akin to addressing the big commerce deficit, higher market entry and non-tariff obstacles confronted by Indian exporters will determine within the assembly of commerce ministers of India and Korea on Tuesday, an official assertion stated on Monday.
The assembly will likely be held between Commerce and Industry Minister Piyush Goyal and Korean Trade Minister Han-koo Yeo.
“The dialogue will focus on addressing the big commerce deficit, market entry points and non-tariff obstacles confronted by Indian exporters. The dialogue will even function funding associated points,” it stated.
It added that the assembly is predicted to additional boost India-Korea commerce relations in an equitable and balanced method.
Both the international locations have applied the Comprehensive Economic Partnership Agreement (CEPA), a form of free-trade pact, in January 2010.
The bilateral commerce between the international locations stood at USD 17.5 billion in 2020-21. The commerce is in favour of South Korea.
India’s imports over the past fiscal was USD 128 billion, whereas exports had been solely USD 4.7 billion.
(Only the headline and film of this report could have been reworked by the Business Standard employees; the remainder of the content material is auto-generated from a syndicated feed.)