‘Trade ties between India & Korea gathered momentum after 2010’

KOLKATA: Shashi Panja, minister in-charge, Department of Industry, Commerce and Enterprises said that India-Republic of Korea (RoK) relations have made great strides in recent years and become truly multidimensional, spurred by a significant convergence of interests, mutual goodwill and high-level exchanges.

She reiterated that the Republic of Korea’s open market policies has found resonance with India’s economic liberalisation and ‘Look East Policy’ as well as “Act East Policy”.

Speaking at the Economic Cooperation Forum organised by the Embassy of Korea, KOTRA and CII in Kolkata on Thursday evening she congratulated the Ambassador of Korea to India for being in Kolkata to mark the 50 years of India-Korean Economic Cooperation. She further added that the trade and economic relations have started to gather momentum again following the implementation of CEPA in 2010.

Speaking about the diversity of Bengal and the potential of industrial development, Panja emphasised that Bengal is the gateway to the North East of India and the state with its strong road network, the waterways and the upcoming industrial corridors can be a conduit to the north-eastern part of India. She also spoke about how social development goals (SDGs) should be kept in mind while driving industrial development.

She also spoke at length about how the two countries share more than just trade relations, a deep-rooted cultural interaction based on the Indo-Buddhist traditions, dance, music, and martial arts.