S Korea-India summit statement-gist

Gist of joint statement issued after S. Korea-India summit
NEW DELHI, Jan. 25 (Yonhap) -- The following is the gist of a joint statement
released by South Korea and India on the results of their summit in New Delhi on
Monday.

-- The two leaders discussed ways to develop bilateral relations and exchanged
views on regional and international issues.

-- They expressed satisfaction on the strong development of South Korea-India
relations based on the "Long-term Cooperative Partnership for Peace and
Prosperity" established in October 2004.

-- They agreed that there is immense scope for further enhancing bilateral
relations in various areas, recognizing that the South Korea-India partnership is
based on the principles of common interest, mutual benefit and shared values,

-- They agreed on the importance of cooperating and consulting with each other in
developing regional architecture in the broader Asia-Pacific region, referring to
the common challenges that both countries face in ensuring security against
non-conventional threats.

-- Considering that the South Korea-India partnership is a factor for peace and
stability in Asia as well as between the two countries, the two leaders decided
to enhance bilateral relations to a Strategic Partnership.

-- The two leaders agreed that the Foreign Policy and Security Dialogue will be
raised to the level of vice foreign minister. It was also agreed that the first
meeting of the upgraded dialogue will be held in 2010.

-- They also agreed to strengthen dialogue and exchanges in the area of defense
through regular high-level military exchanges.

-- They agreed on the need for greater cooperation between navies and coast
guards in areas pertaining to the safety and security of international maritime
traffic.

-- They agreed to set a target of US$ 30 billion for bilateral trade to be
achieved by 2014.

-- They recognized the need to expedite the implementation of the POSCO project
in the State of Orissa.

-- They shared the view that nuclear energy can play an important role as a safe,
sustainable, and non-polluting source of energy. They agreed to facilitate
development of a framework for bilateral civil nuclear cooperation.

-- They agreed to designate the year 2011 as "Year of Korea" in India and "Year
of India" in South Korea.

-- They agreed to maintain regular consultations and close coordination in
high-level regional forums such as the EAS, ARF, ACD, and ASEM processes.

-- Both sides agreed to work for comprehensive United Nations reform, including
Security Council expansion.

-- They valued the G-20 as the premier forum for international economic cooperation.
(END)