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| President Moon Jae-in shakes hands with Indian Prime Minister Narendra Modi, as Indian President Ram Nath Kovind looks on during a welcoming ceremony at the presidential palace in New Delhi, Tuesday. / Korea Times photo by Koh Young-gwon |
By Kim Rahn
President Moon Jae-in and Indian Prime Minister Narendra Modi agreed Tuesday to hold regular summits to reflect the growing importance of their partnership in the region's evolving security and economic environments.
They decided to support small- and medium-sized enterprises operating in each other's countries, and expand cooperation in advanced technology development and infrastructure construction in India, according to Cheong Wa Dae.
In the talks in New Delhi, Moon and Modi agreed to intensify their countries' special strategic partnership. The agreement is in line with Moon's New Southern Policy, which seeks more cooperation and exchanges with Southeast Asia and India, and Modi's Act East Policy, which focuses on improving relations with East Asian nations.
"We agreed to boost people-to-people exchanges between the two nations so they can have more understanding of each other," Moon said in a joint press conference after the summit.
"For this, leaders of the two nations will visit each other's countries regularly. High-level talks between government officials will be expanded to carry out agreements reached between the leaders."
They recognized the two countries have complementary economic structures and potential for further economic cooperation. For cooperation between the highly educated younger generations, they decided to set up co-working places in India where Korean startups can stay and work. They also welcomed the establishment of a technology exchange center for small- and medium-sized companies of the two countries.
Moon asked Modi to pay attention to Korean companies bidding for India's infrastructure construction projects for electricity grids, roads and harbors.
The leaders acknowledged the need to facilitate trade by speeding up their revision of the Comprehensive Economic Partnership Agreement (CEPA), which took effect in 2010.
To spearhead growth in the Fourth Industrial Revolution, the two countries will set up the Korea-India Future Strategy Group, in which the governments and private sectors of the two nations will cooperate in artificial intelligence, electric vehicles, energy and healthcare. The India-Korea Center for Research and Innovation Cooperation will also be established in New Delhi for commercialization of Korea's information and communications technology and robotics.
Commemorating thousands years of historic ties between Korea and India, they will seek to remodel and expand a memorial park for Queen Heo, the wife of Suro Geumgwan Gaya, who is believed to have come from the ancient Indian kingdom of Ayuta. The park was set up in 2001 in Uttar Pradesh, a northern Indian province.
After the summit, the leaders adopted a shared vision statement for the cooperation.
Ministers of the two countries in charge of trade, industry, science, foreign affairs and culture signed four memoranda of understanding (MOUs) on a variety of cooperative moves, with the two leaders attending the signing ceremony. Several other state-run organizations and local governments also signed seven more MOUs.
Earlier in the day, Moon and first lady Kim Jung-sook participated in a welcoming ceremony hosted by Indian President Ram Nath Kovind at the presidential palace. Moon had a luncheon with Modi, and a banquet with Modi and Kovind.
