President Moon's visit boosts India-ROK ties

World
Europe

Republic of Korea (ROK) President Moon Jae-in's four-day visit to India has boosted the bilateral ties between the two nations.

The talks between the leaders included a new challenge to increase their trade between the two countries from 20 billion to 50 billion US dollars by 2030.

Asia’s third and fourth largest economies said they’re confident about the future of their relations.

ROK President Moon Jae-in wraps up his official visit to India on July 11, 2018. /VCG Photo

Both nations signed an "early harvest package" document, taking a step forward in upgrading their comprehensive economic partnership agreement.

One of the key issues that came up for discussion when the two leaders met was the situation on the Korean Peninsula.

Narendra Modi, the prime minister of India, said his country was fully behind the peace process on the Korean Peninsula, adding that it would do all it could to ensure stability in the region.

"There is a natural synergy between India’s Act East policy and Korea’s New Southern Policy and I truly welcome President Moon's view that Korea’s (ROK) ties with India are a central pillar for his New Southern Policy," Modi said in a joint statement.

July 9, 2018: Indian Prime Minister Narendra Modi cuts the ribbon with ROK President Moon Jae-in during the inauguration ceremony of Samsung Electronics mobile phone manufacturing facility in Noida, India. /VCG Photo

Overall, four documents towards further strengthening the strategic partnership were signed.

They agreed to expand their cooperation in matters of the economy, diplomacy and security.

Moon outlined how the ROK and India elevated their relationship to what’s known as a "special strategic partnership" when Modi visited Seoul three years ago.

"For the sake of regional peace and stability we have agreed to strengthen our cooperation within the regional multilateral consultative frameworks, such as the East Asia Summit and the ASEAN Regional Forum. Lastly as for the imminent challenge of the fourth industrial revolution, we agree to establish a cooperation platform to respond to these issues together," Moon added.

July 10, 2018: ROK President Moon Jae-in and his wife Kim Jung-sook arrive to pay homage to Mahatma Gandhi at his memorial Rajghat in New Delhi, India. /VCG Photo

Moon jointly opened the world's largest mobile phone factory in the national capital region with Modi on Monday.

Over 500 ROK companies have operations in India, and many more are ready to start doing business in the country.

Moon, who arrived on Sunday for his first state visit to India, was accorded a ceremonial welcome at the Rashtrapati Bhavan by President Ram Nath Kovind and the prime minister on Tuesday.

India laid out the red carpet to welcome Moon Jae-in and his wife Kim Jung-sook. At the president’s house, Moon inspected a guard of honor, and he also laid a floral tribute at the Mahatma Gandhi memorial at Rajghat.

(Cover: Indian Prime Minister Narendra Modi shakes hand with ROK President Moon Jae-in prior to their delegation-level talk and signing of agreements at Hyderabad House in New Delhi, July 10, 2018. /VCG Photo)