— 12th Round of India-Korea CEPA Upgrade Talks Held in New Delhi

New Delhi, May 28 (H.S.): India and South Korea have reaffirmed their commitment to upgrading the Comprehensive Economic Partnership Agreement (CEPA) in order to reduce the growing trade deficit and ensure a more balanced economic partnership.

In a statement issued on Thursday, the Ministry of Commerce and Industry said that during the 12th round of negotiations held in New Delhi from May 25 to 27, both sides reviewed the progress of the India-Korea CEPA upgrade negotiations. During the discussions, the two countries reaffirmed their commitment to a balanced and future-oriented trade partnership.

The talks were co-chaired by Kapil Chaudhary, Joint Secretary in the Department of Commerce under India’s Ministry of Commerce and Industry, and Park Geun-oh, Director General for Trade Agreement Policy at South Korea’s Ministry of Trade, Industry and Energy.

India and South Korea will constitute sub-groups to expand CEPA negotiations in areas such as digital trade, supply chains, and strategic industrial cooperation. Both countries also reiterated their commitment to completing the upgrade of the India-Korea Comprehensive Economic Partnership Agreement (IK-CEPA) within a defined timeframe, as both sides intensified efforts to modernise the trade pact and address concerns, including India’s growing trade deficit with South Korea.

It is noteworthy that in line with the Joint Declaration signed between the two countries on April 20, 2026, Union Commerce and Industry Minister Piyush Goyal and South Korean Trade Minister Yeo Han-koo had committed to expediting the India-Korea CEPA upgrade negotiations during the visit of the President of South Korea to India.

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Hindusthan Samachar / Jun Sarkar