Delhi, Seoul aim to ink revitalised CEPA: Envoy

Sandeep Dikshit

New Delhi, February 28

Another set of intensive engagement with South Korea is set to unfold with External Affairs Minister S Jaishankar’s first visit to Seoul from March 5, which could be followed up with the visit of South Korean President Yoon Suk Yeol after the General Election in the country.

Talks to conclude by year-end

Negotiations on the expansion of Comprehensive Economic Partnership Agreement (CEPA) are likely to conclude in 2024. Chang Jae-bok, South Korean Ambassador

The focus will be on the renegotiation of the Comprehensive Economic Partnership Agreement (CEPA) which the Modi government feels is unfair to India. “Negotiations on the expansion of CEPA are likely to conclude in 2024,” said South Korean Ambassador Chang Jae-bok during a media interaction here today.

In the latest ministerial dissatisfaction against FTAs with South Korea and Japan, Commerce Minister Piyush Goel said last year, “We opened our markets for them. They have not allowed our exports to their country… What it was 10 years ago, it is the same today.”

Jaishankar had also said some economies with which India finalised FTAs were very protective of their supply chains and MSMEs and even competitive Indian products were not selling because of non-tariff barriers.

With the UK and Canada clamping down on the uninhibited flow of foreign students, South Korea is becoming an attractive destination to Indian students. “I think the education sector is very important for our bilateral relations. The future of our relations depends on our education cooperation. We already have many student educators and scholar exchanges between our two countries,” said the Ambassador.

In Korea, D-2 Student Visa holders can work up to 20 hours per week, while graduated students can apply for a D-10 visa to look for jobs in a country where the population is shrinking. Last year, a Korean diplomat had said Seoul was looking at hosting three lakh international students by 2027. South Korea is also keen on advancing the prospects of its defence industry in India.