The Summits of Korea and India Aim for “Comprehensive Partnership in Economy”

While visiting India as a national guest, President Roh Moo-hyun held a summit meeting with Indian Prime Minister Manmohan Singh at a guesthouse in New Delhi on October 5, and the nations agreed on a Comprehensive Economic Partnership Agreement (CEPA).

A CEPA is a broader conceptualization of a Free Trade Agreement (FTA), which is limited to the removal of tariffs. During the summit, the two heads of state decided to establish a joint research group by January 2005 to examine the propriety of a CEPA.

The two leaders also issued a joint statement on 30 clauses, including a clause to upgrade the relationship between the two nations to “a cooperative companionship for peace and prosperity.” The nations also decided to consolidate cooperation further in the fields of national defense, military, and anti-terrorism, and have decided to hold a “Korea-India Meeting on Diplomatic Policy and Security” beginning in 2005. The nations have also concluded an official Treaty on Extradition and a Treaty on Mutual Assistance in Criminal Matters.

After the summit meeting, President Roh attended a symposium held by three major economic organizations and said, “Let our two nations together light the lamp of Asia,” using a metaphor in reference to poetry written by Indian poet Sir Rabindranath Tagore.

Prior to this, during a dinner on October 4 with the businessmen accompanying him to India, Roh encouraged them by saying, “Although I thought that I, as the president of the nation, represented Korea, after visiting India, I feel that it’s our products which actually represent Korea. Seeing the names and logos of Korean companies on the streets of India moved my heart. The government is figuring out ways to support businesses.”

Roh’s visit to India will end on October 6 when the president leaves for Hanoi, Vietnam to attend the fifth Asia-Europe meeting.

Jung-Hun Kim jnghn@donga.com