New Delhi: South Korean President Moon Jae-in has arrived at New Delhi for his four-day India visit. There are discussions all over the world about the trade war that has sparked off between the United States against China and the European Union(EU), the effects of which will soon be visible. In view of these events, the South Korean President’s visit to India assumes great significance. The South Korean analysts have advised that South Korean President Moon Jae-in should expeditiously sign trade and investment agreements with India, taking into account the opportunity created because of the trade war between the United States and China.
Moon Jae-in arrived at the New Delhi airport on Sunday in the evening. Minister of State for External Affairs, General V. K. Singh received him at the airport. President Moon Jae-in has been accompanied by a delegation of members of his cabinet, senior officials and entrepreneurs. President Moon Jae-In will meet with Prime Minister Narendra Modi on Monday. Both the leaders will be addressing the conference of ‘India Korea Business Forum’. There are indications of announcements regarding the signing of some important bilateral trade and investment related agreements, will be made at this forum.
The bilateral trade between India and South Korea has crossed $20 billion till the year 2017. Both the countries are interested in increasing it further. The importance of the economic and investment cooperation between India and South Korea has especially increased in view of the trade war. The South Korean analysts have advised their President to strengthen ties with India against the background of the trade war. It has become imperative for all the countries to take sides in the trade war between the United States against China and European Union. In this scenario, India and South Korea have both taken a neutral stand and this has presented a very big opportunity for both the countries, claim the analysts.
Neither China nor the United States will be offended by the investment in South Korea. Therefore, South Korea should take advantage of this neutral stance and enter into comprehensive trade cooperation with India and the ASEAN countries, and the decision needs to be taken before the opportunity is lost, advise the South Korean analysts. Prime Minister Modi had visited South Korea in 2015. This visit saw the development of a strategic partnership between the two countries. The second phase of the same would be attained in this India visit of President Moon Jae-in, is the confidence expressed by the Indian Foreign Ministry.
India has adopted the ‘Act East’ policy to improve relations with the eastern countries and South Korea is a partner country that cannot be ignored in the Act East policy, said Indian Foreign Ministry Spokesman Raveesh Kumar.