S. Korean, Indian textile industries to enhance cooperation

SEOUL, Jan. 28 (Yonhap) -- A South Korean association of textile industries has
signed a memorandum of understanding with its Indian counterpart to enhance
bilateral cooperation, the Korean industrial body said Thursday.

Under the pact signed between the Korea Federation of Textile Industries (KOFOI)
and the Confederation of Indian Textile Industry at a New Delhi hotel Monday, the
two sides will work together to expand the scope of tariff concessions on a list
of textile products set by the South Korea-India free trade agreement that was
signed last year.
The free trade deal, named the Comprehensive Economic Partnership Agreement
(CEPA), was signed in August 2009 and took effect early this year.
The arrangement, encouraged by the CEPA, also calls for the two associations to
hold joint conferences and annual meetings for bilateral cooperation in textile
industry.
At the signing ceremony were South Korean Knowledge Economy Minister Choi
Kyoung-hwan, India's Commerce Minister Anand Sharma and KOFOI chief Ro Hee-chan.
jia@yna.co.kr
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