India will address concerns on market access barriers and non-tariff barriers faced by Indian exporters with South Korea on Tuesday, a statement from the Ministry of Trade and Industry said.
Concerns over a trade deficit in favor of the East Asian nation will also be addressed at a bilateral meeting between Minister of Trade and Industry Piyush Goyal and Minister of Commerce of the Republic of Korea Han -koo Yeo. India’s trade deficit with South Korea has remained high in recent years.
Exports have not seen a massive jump, despite a free trade agreement between the two nations. Bilateral trade between India and South Korea from April to October was $ 13.69 billion, with a trade deficit of $ 5.29 billion.
“The discussion will also focus on investment issues. The meeting is expected to further strengthen India-Korea trade relations in a fair and balanced manner for the mutual benefit of both countries, ”the statement said.
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