India will take up concerns regarding the market access impediments and non-tariff barriers faced by Indian exporters with South Korea on Tuesday, a report by the commerce and industry ministry said.
Concerns about a trade deficit, which is in favour of the East Asian nation, will also be taken up during a bilateral summit between Commerce and Industry Minister Piyush Goyal and Trade Minister of the Republic of Korea Han-koo Yeo. India’s trade scarcity against South Korea continued to remain high over the past few years.
Exports did not observe a massive jump, despite a free trade contract between both nations. Bilateral trade between India and South Korea during April-October stood at $13.69 billion, with a trade deficit of $5.29 billion.
“The argument will also feature investment related issues. The meeting is probable to further boost India-Korea trade relations in an equitable and balanced manner to the mutual advantage of both countries,” the statement said.