India to work for enhancing investments with SKorea

From Ashwini Shrivastava
Seoul (PTI) - India will work with South Korea
to enhance trade relations and tap investments opportunities
emerging from new economic avenues, President Pratibha Patil
said here on Monday.
"Korean companies have become household names in
India, and some of our best business houses are also investing
in your country. We will work towards maintaining and
enhancing these trends," said Patil, who is on a visit here.
Patil acknowledged the presence of Korean companies in
Indian market and growing bilateral trade and called for
stepping up the dialogues to discuss regional issues.
"In contemporary times, Korean industry has become
legendary, and coupled with India's dynamically growing
market, we have new economic opportunities which did not exist
earlier.
That we are making full use of such openings, can be
seen from the fact that our bilateral trade grew 40 per cent
in 2010, and is continuing to show a similar trajectory this
year too," Patil said at the banquet hosted by Korean
President Lee Myung-bak in her honour.
She also called for greater people-to-people contacts
between the two countries and cooperation in the UN.
"India is an integral part of the emerging economic
and security architecture in East Asia. We are both members of
the East Asia Summit process. As we are two countries with
similar values, we look forward to stepping up our discussions
and have closer coordination on regional issues.
"Similarly, I am very sure that our cooperation in
international institutions, including the United Nations is
set to expand," Patil said. "We are also working to promote
greater direct air links between us, so as to encourage more
tourists flow."
The President congratulated Korea for hosting G-20
summit here and expressed confidence that it will successfully
host the Nuclear Security Summit in March next year.
India will participate in that meeting, she said.
Korean President Lee expressed hope that Patil's visit
will give a fillip to bilateral ties.
"I firmly believe that Your Excellency’s visit will
generate further momentum for the deepening of our
cooperation," he said.
Lee termed the nuke cooperation agreement signed with
India earlier in the day as "historic" and will act as "a
milestone, demonstrating that our two countries have now truly
become strategic partners."
Furthermore, the "Agreement on Simplifying Visa
Procedures", all ready to be signed soon, will greatly
contribute to the expansion of mutual investment and
people-to-people exchanges between Korea and India."
Patil also paid floral tribute at a bust of Nobel
Laureate Gurudev Rabindranath Tagore here.