1. H.E. Mr. Lee Myung-bak, President of the Republic of Korea (ROK), paid a State
Visit to from 24 to 27 January 2010, at the invitation of H.E. Smt. Pratibha Devisingh
Patil, President of theRepublic ofIndia .
2. The President of the ROK was accorded a ceremonial welcome at the Rashtrapati
Bhawan on 25 January 2010. During the visit, President Lee met President Patil,
and also held a summit meeting with Prime Minister of India, Dr. Manmohan Singh.
On 26 January, President Lee will be the Chief Guest at the celebrations to mark
the Republic Day of India.
3. During the summit meeting, the two leaders discussed ways to develop bilateral
relations and exchanged views on regional and international issues. They expressed
satisfaction on the strong development of ROK-India relations based on the "Long-term
Cooperative Partnership for Peace and Prosperity" established in October 2004. Both
sides welcomed the steady growth in high level exchanges and contacts between the two
countries, and the expansion in various areas of bilateral relations including defence, trade,
science & technology, information & communication technology, education, and culture.
4. Recognizing that the ROK-India partnership is based on the principles of common
interest, mutual benefit and shared values, the two leaders agreed that there is
immense scope for further enhancing bilateral relations in various areas. In this context,
they also welcomed the entry into force of the Comprehensive Economic Partnership
Agreement (CEPA) on 1 January 2010 as the bedrock of a new comprehensive
partnership between the ROK and . They also recognized that, as both countries are
major economies in the region, the partnership has the capacity to promote regional
growth, and to contribute to prosperity and economic development ofAsia .
5. Referring to the common challenges that both countries face in ensuring security
against non-conventional threats, the two leaders agreed on the importance of cooperating
and consulting with each other in developing regional architecture in the broader
Asia-Pacific region.
6. Considering that the ROK-India partnership is a factor for peace and stability inAsia
as well as between the two countries, the two leaders decided to enhance bilateral
relations to a Strategic Partnership. They also identified the following elements of
the future relationship:
Political and Security Cooperation
7. The two leaders agreed to maintain regular contacts, including on the margins of
international meetings and conferences.
8. Both sides reiterated the importance of the ROK-India Joint Commission co-chaired by
the Foreign Ministers of the two countries and acknowledged the necessity of holding
the Joint Commission on an annual basis. It was agreed that the sixth meeting of the Joint
Commission will be held in 2010.
9. The two leaders agreed that the Foreign Policy & Security Dialogue will be raised to
the level of Vice Foreign Minister, Ministry of Foreign Affairs and Trade (MOFAT) of
the ROK, and Secretary (East), Ministry of External Affairs (MEA) of. It was also agreed
that the first meeting of the upgraded dialogue will be held in 2010.
10. The two leaders agreed to strengthen dialogue and exchanges in the area of defence
through regular high-level military exchanges. They also agreed to explore the possibilities
of joint venture cooperation in research & development, and manufacture of military
equipment including through transfer of technology and co-production. It was agreed that
the third meeting of the Joint Committee on Defence Logistics and Industry will be held
during the first half of 2010.
11. The two leaders also agreed on the need for greater cooperation between the navies
and coast guards in areas pertaining to the safety and security of international maritime
traffic. They shared the view that developing long-term cooperative relations in this area
will contribute to peace and stability in the Asia-Pacific region.
Economic and Trade Cooperation
12. Both sides shared the view that the CEPA will contribute to enhancing trade and
investment flows between the two countries. They also reaffirmed their commitment to
ensure the smooth implementation of the CEPA. It was agreed that the first meeting of the
Joint Committee headed by Trade Ministers of the two countries or their representatives will
be held in the second half of 2010 to review the status of the implementation of the CEPA.
13. The two leaders agreed to set a target of US$ 30 billion for bilateral trade to be
achieved by 2014. They also agreed to strengthen cooperation in trade and investment,
SMEs, SPS and Standards related measures, trade remedies and IPR issues.
14. Both sides agreed to enhance cooperation in the financial sector through bilateral
consultations on macroeconomic policy, budget, taxation, finance, and public sector
reform.
15. Noting that the expansion of mutual investment will contribute to the reciprocal
economic growth of both countries, the two leaders agreed to enhance cooperation and
support at the governmental level to nurture a favourable environment, including through
mutual agreement on a revised Double Taxation Avoidance Convention (DTAC) before the
end of 2010. The Indian side hoped that investment from the ROK intowill expand,
including in the infrastructure and manufacturing sectors. In this context, referring to the
project to set up a Korean industrial complex and technology zone in the State ofGujarat ,
the two leaders noted its potential to further accelerate the bilateral trade and investment
linkages. The two leaders also recognized the need to expedite the implementation of
the POSCO project in the State ofOrissa . The Korean side hoped that Indian investment
in the ROK will also expand. It was agreed that the fourth meeting of the ROK-India Joint
Committee on Investment Promotion will be held inNew Delhi in 2010.
16. Noting the important role of air transport network in promoting economic, social and
cultural exchanges, the two leaders agreed to explore the possibility of enhancing air
connectivity between the two countries. They also agreed to consider the early conclusion
of a mutually beneficial Maritime Shipping Agreement.
Science and Technology Cooperation
17. The two leaders recognized the importance of strengthening cooperation in the field of
science & technology. They welcomed the outcome of the Meeting of the Joint Committee
on Science & Technology held in Seoul in December 2009 and endorsed the decision of
the two sides to consider creating a dedicated fund of US$ 10 million (with a contribution
of US$ 5 million by each side) to promote joint research. The two leaders also agreed that
the two sides may explore the possibility of upgrading the level of the dialogue.
18. The two leaders also agreed to strengthen cooperation in the information technology
sector including through the expansion of mutual investment and personnel exchanges.
They also welcomed the decision of the two sides to renew the Memorandum of
Understanding on Cooperation in Information Technology and Services.
19. The two leaders welcomed the signing of the MOU on cooperation in the peaceful uses
of outer space between the Indian Space Research Organisation (ISRO) and the Korea
Aerospace Research Institute (KARI) and expressed confidence that the MOU will facilitate
strong cooperation between the two countries in this important sector.
20. The two leaders shared the view that nuclear energy can play an important role as
a safe, sustainable and non-polluting source of energy. They agreed to facilitate
development of a framework for bilateral civil nuclear cooperation.
Social and Cultural Cooperation
21. Recognising the need to further strengthen cultural exchanges and people to people
contacts between the ROK and India, the two leaders agreed to designate the year 2011
as ‘Year of Korea’ in India and ‘Year of India’ in the ROK.
22. The Indian side also welcomed the ROK initiative to open a Korean Cultural Centre in
New Delhi in 2011, which will go a long way in further promoting awareness about Korean
life and culture in India.
Cooperation in the International Arena
23. The two leaders recognized the legitimate and long-term interests of both countries in
the peace and prosperity of the Asia-Pacific region, and the importance of developing an
open and inclusive economic regional architecture that is based on the principles of
mutual benefit and shared opportunity. In this context, they affirmed that both the ROK and
have a significant role to play in such a regional architecture and agreed to maintain
regular consultations and close coordination in the EAS, ARF, ACD and ASEM processes.
24. Both sides agreed to work for comprehensive United Nations reform, including
Security Council expansion, with a view to enhancing its representativeness and,
consequently, its effectiveness, authority and efficiency, as well as its capacity to address
various challenges facing the international community.
25. The two leaders reiterated their commitment to the eradication of terrorism in all its
forms and manifestations, and agreed to enhance cooperation in this area, including
through information sharing.
26. Both sides also reiterated their common commitment on nuclear disarmament and the
non-proliferation of weapons of mass destruction and their means of delivery.
27. The two leaders valued the G-20 as the premier forum for international economic
cooperation and commended its timely and strong policy response in the crisis. They
welcomed the Framework for Strong, Sustainable and Balanced Growth launched
atPittsburgh and looked forward to its implementation.
28. The two leaders welcomed the Copenhagen Accord. They reaffirmed their
determination to work closely together in the negotiations both under the United Nations
Framework Convention on Climate Change (UNFCCC) and the Kyoto Protocol towards
an Agreed Outcome to be adopted at the 16th Session of the Conference of the Parties.
29. The following agreement and MOUs were signed during the visit:
(i) Agreement on the Transfer of Sentenced Persons
(ii) MOU on Cooperation in Information Technology and Services
(iii) Programme of Cooperation in the Fields of Science and Technology for
the Period 2010-2012
(iv) MOU for Cooperation in the Peaceful Uses of Outer Space
30. The two sides agreed that the State Visit of the President of the Republic of Korea to
India has reflected the recent trend in expanding bilateral relations between the two
countries and that this visit will provide the impetus for a new vision of friendly and
cooperative relations in the years to come.
31. On behalf of the Government and the people of theRepublic ofKorea , President Lee
Myung-bak thanked the Government and the people offor the warm and friendly hospitality
accorded to him and his delegation. President Lee extended cordial invitations to President
Smt. Pratibha Devisingh Patil and Prime Minister Dr. Manmohan Singh to visit theRepublic
ofKorea at a mutually convenient time. The invitations were accepted with appreciation.
The timing of these visits will be decided through diplomatic channels.
source:Ministry of Foreign affairs and trade,Korea
FTAs in effect
