Exports did not witness a massive jump, despite a free trade agreement between both nations. Bilateral trade between India and South Korea during April-October stood at $13.69 billion, with a trade deficit of $5.29 billion.
India will take up worries in regards to the market access obstructions and non-tariff barriers looked by Indian exporters with South Korea on Tuesday, an assertion by the commerce and industry ministry said. Concerns with respect to a trade deficit, which is agreeable to the East Asian country, will likewise be taken up during a two-sided gathering among Commerce and Industry Minister Piyush Goyal and Trade Minister of the Republic of Korea Han-koo Yeo. India’s trade deficit against South Korea kept on remain high over course of recent years.
“The discussion will also feature investment related issues. The meeting is expected to further boost India-Korea trade relations in an equitable and balanced manner to the mutual advantage of both countries,” the statement said.
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