India, Korea ink 3 accords; to talk on nuke energy pact

India and Korea will soon commence negotiations on forging a nuke energy pact.

Updated: Jun 19, 2010, 00:22 AM IST

New Delhi: India and Korea will soon
commence negotiations on forging a nuclear energy cooperation
pact even as the two countries today inked three accords to
enhance economic and cultural ties in Seoul.

External Affairs Minister S M Krishna, currently on an
official visit there, co-chaired the 6th meeting of India-ROK
Joint Commission along with his Korean counterpart Yu Myung-
Hwan, where two ministers agreed to launch negotiations for
the conclusion of an Inter-Governmental Agreement on Peaceful
Uses of Nuclear Energy.

"Noting that the two sides had already exchanged
drafts of an Inter-Governmental Agreement on Peaceful Uses of
Nuclear Energy, the two ministers agreed to launch
negotiations between the two countries, at an early date, for
the conclusion of such an agreement," an official statement
said here.

The two countries also signed three MoUs, including
one on Cooperation in the field of Small and Medium
Enterprises. Cooperation between ICCR and Korea Foundation,
and that between Indian Council for World Affairs (ICWA) and
the Institute for Foreign Affairs and National Security
(IFANS) of the RoK formed the other areas of the MoUs.
The two ministers discussed ways to enhance bilateral
defence and security cooperation including through expanded
naval cooperation in anti-piracy operations in the Indian

Krishna proposed establishment of the dedicated Joint
Science & Technology Fund of USD 10 million (with a
contribution of USD 5 million by each side) to promote joint
research between scientists and technologists of the two

He underscored the importance of implementation of the
MoU on Cooperation in the Peaceful Uses of Outer Space,
including through the launch of Korean satellites by Indian

Noting that bilateral trade has jumped by a robust 70
per cent in the first four months of the year, the statement
said this trend was expected to continue over the coming
months, providing confidence that the trade target of USD 30
billion by 2014 could be achieved.

"My visit is aimed at consolidating and expanding our
ever closer ties... I have been able to call on President Lee
and hold wide-ranging, intense and fruitful discussions with
Foreign Minister Yu Myung-Hwan," Krishna said while addressing
a gathering at IFANS on strengthening India-ROK strategic