Bilateral Talks Begin as Modi Hosts South Korea’s Lee Jae Myung
New Delhi: PM Modi will meet South Korean President Lee Jae Myung on Monday for bilateral talks, where the main agenda is likely to be increasing cooperation in the supply chain and strengthening their strategic relationship.
The talks come at a time of concerted global attempts to diversify supply chains and decrease reliance on single-source manufacturing hubs.
The meeting follows a ceremonial welcome given to President Lee at Rashtrapati Bhavan in the morning, where he was greeted by President Droupadi Murmu and Prime Minister Narendra Modi. The summit marks a key engagement in the three-day state visit of President Lee to India, with the objective of strengthening the “Special Strategic Partnership.”
At the heart of the talks will be an attempt to deepen cooperation in strategic areas like semiconductors, electronics, and high-tech manufacturing, with the two nations aiming to build resilient and trustworthy supply chains.
It is also expected that the leaders will explore new ways of collaboration in technology and renewable energy.
New Delhi and Seoul are looking to upgrade the Comprehensive Economic Partnership Agreement (CEPA) to promote greater business activities between them.
Bilateral trade between them amounted to more than $25 billion in 2024, and the two countries aiming to raise it to $50 billion by 2030.
Furthermore, it is anticipated that the leaders will exchange their views on regional and international affairs, particularly in the Indo-Pacific region, which is of concern to both the countries due to their shared vision of maintaining a free, open and inclusive Indo-Pacific.
President Lee, who came to New Delhi on Sunday, has highlighted that the focus should be on increasing the level of economic engagement with India, particularly as Seoul seeks to have diversified trade relations. His visit includes meetings with corporate leaders, indicating a push to expand investment and industrial collaboration.
The summit is expected to culminate with announcements to further increase the cooperation across sectors, reflecting the growing cooperation between the two countries.
(DD News)
