'Commerce ministry in talks with South Korea to upgrade existing FTA'
With talks to upgrade the existing free trade agreement (FTA) moving forward between India and Korea, the department of commerce is engaging with different ministries, including heavy industries, steel, and chemicals, to prepare the offer list, an official said.
Preparation of the list is part of the negotiations, which are underway, for the upgrade of the existing FTA between the two countries, dubbed as comprehensive economic partnership agreement (CEPA).
The agreement was operationalised in January 2010. So far, 10 rounds of talks have been concluded.
The official said both sides have exchanged the request list and "are working on the offer list" and for that the commerce ministry is holding discussions with different ministries, including steel, heavy industries, textiles, chemicals and petrochemicals.
India has sought greater market access for certain products such as steel, rice, and shrimp from South Korea with a view to boost exports of these goods, the official added.
Ind