'India, South Korea likely to sign CEPA'
Apr 12, 2007 - 9:55:23 PM
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Indian companies can list their shares on the South Korea Exchange and can get the assistance of South Korea Exchange in raising capital by issuing bonds in South Korea, he said.
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By IANS,
[RxPG] New Delhi, April 12 - Lee Myung Bak, the frontrunner for South Korea's forthcoming presidential elections, Thursday called for an early conclusion of a free trade area agreement between India and his country and stressed that economic ties between the two are poised for a major expansion.
Speaking at a meeting organised by the Confederation of Indian Industry - here, Lee also proposed South Korea-India Commission for a Better Future, saying it could be 'a good step towards expanding bilateral relations beyond economics'.
With the likely conclusion of the Comprehensive Economic Partnership Agreement - later this year, bilateral trade is expected to rise to $10 billion by next year.
Stressing on the need for expanding bilateral trade and investment between the two countries, he hoped the Indian government would be able to resolve the controversy over land acquisition for the multi-billion-dollar POSCO plant in Orissa as the project would be beneficial to both countries.
Lee, the leader of the opposition Grand National Party and a former mayor of Seoul, also spoke approvingly of the India-US civil nuclear deal and expressed hope that it will go through.
Indian companies can list their shares on the South Korea Exchange and can get the assistance of South Korea Exchange in raising capital by issuing bonds in South Korea, he said.
South Korean companies are also willing to fund the infrastructure projects in India, he added.
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