1. H.E. Mr. Pranab Mukherjee, Minister of External Affairs of India is paying an official visit to the Republic of Korea from September 16 to 18, 2007 at the invitation of H.E. Mr. Song Min-soon, Minister of Foreign Affairs and Trade of the Republic of Korea. The two Ministers held one-to-one meeting and co-chaired the 5th ROK-India Joint Commission in Seoul on 17 September 2007. The Minister of External Affairs of India also called on H.E. Mr. Roh Moo-hyun, President of the Republic of Korea and H.E. Mr. Im Chae- jung, Speaker of National Assembly, and met with H.E. Mr. Kim Jang-soo, Minister of National Defence.

2. The two Ministers noted with satisfaction that bilateral relations have gained a new momentum following the establishment of a “Long-term Cooperative Partnership for Peace and Prosperity” during the State visit of the President of the Republic of Korea to India in October 2004. They expressed their determination to accelerate the process of strengthening bilateral relations through the implementation of understandings and agreements reached during the visits of the President of the Republic of Korea to India in October 2004 and the President of India to the Republic of Korea in February 2006.

3. The two Ministers discussed ways to enhance bilateral relations and to further develop cooperation on regional and international issues of mutual interest. They reiterated their readiness to cooperate in regional and multilateral frameworks like the ASEAN Regional Forum (ARF). They shared the view that the East Asia Summit (EAS) could play a significant role in expanding regional cooperation and community building in the region. They welcomed the participation of the Republic of Korea as an Observer at the 14th SAARC Summit in New Delhi in April 2007, and agreed that this would enhance regional linkages between SAARC countries and the East Asian region.

4. The Minister of External Affairs of India welcomed the progress achieved at the Six-Party Talks on the resolution of the North Korean nuclear issue. He also welcomed the significant step taken by the leaders of the ROK and the DPRK to hold the 2nd Summit meeting and expressed the hope that the Summit would promote inter-Korean relations and contribute to maintaining peace and security on the Korean Peninsula. The Minister of Foreign Affairs and Trade of the Republic of Korea expressed its appreciation on it and requested continued support of India.

5. The two Ministers highlighted the importance of high level exchanges of visits and agreed on the need for further intensifying them. The two Ministers noted with satisfaction the work of the bilateral dialogue mechanisms. They agreed on the importance of annual meetings of the India - ROK Joint Commission in order to ensure steady and all round development of bilateral relations. They also agreed that the third meeting of the Foreign Policy and Security Dialogue will be held in New Delhi on mutually convenient dates later this year.

6. They agreed that the momentum of high level exchanges created by the visit of the Minister of National Defence of the Republic of Korea to India in May 2007 should be maintained and further enhanced.

7. The two Ministers reviewed all areas of economic cooperation between India and the Republic of Korea. They expressed satisfaction on the meaningful progress made in negotiations on the Comprehensive Economic Partnership Agreement (CEPA) and reiterated their desire to conclude the negotiations by the end of 2007. They also welcomed the steady growth in bilateral trade and investment, and expressed their confidence that the trade target of US$ 10 billion could be achieved before 2008 through joint efforts of both countries. The two Ministers agreed that strong and diversified economic cooperation lies at the core of the partnership, and agreed to work together to improve the environment for enlarged trade and investment. In particular, they attached great importance to POSCO’s project in the state of Orissa and agreed to provide all possible assistance in expediting the implementation of the project.

8. The two Ministers also underscored the importance of expanding people-to-people contacts. They agreed to explore new areas of cooperation in culture, education, science & technology and tourism fields.

9. The Minister of External Affairs of India invited the Minister of Foreign Affairs and Trade of the Republic of Korea to pay a bilateral visit to India for the 6th Joint Commission Meeting at a mutually convenient time in 2008. The Minister of Foreign Affairs and Trade of the Republic of Korea accepted the invitation.

Seoul
September 17, 2007 

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