In the meeting, the two Foreign Ministers focused on progress of various cooperation projects, which the two countries agreed to pursue during President Lee Myung-bak’s state visit to India last January. They also had a broad exchange of views on the current situation of the Korean peninsula and on ways to work together on the international stage.

Noting with satisfaction marked recent strides in the ROK-India relationship in various fields, the two Foreign Ministers agreed to promote bilateral dialogue channels and high-level officials’ exchange as the relationship was upgraded to a strategic partnership last January. In this vein, they expected that the Korean trip by the Indian Defense Minister, scheduled for the second half of this year, will help further bolster cooperation in the defense field. 

Taking note of successful implementation of the Comprehensive Economic Partnership Agreement (CEPA), in effect since last January, the two Ministers expressed confidence that, in view of the 70-percent increase in the bilateral trade volume over the last four months since the effectuation of CEPA, the two countries will be able to attain the goal of reaching US$30 billion in trade in 2014.

With regard to the need for cooperation in expanding trade and investment, Minister Yu requested the Indian side’s continued interest in and support for smooth progress in POSCO’s steel-mill construction project in India. He also asked for support for a Korean bank’s bid to open a branch in India to provide seamless financial services for Korean firms in the country. Also, the two Ministers agreed to work for the conclusion of an agreement on double-taxation avoidance; on maritime transport; on social security; and on visa simplification for businessmen.

Expressing satisfaction with steady strides in civil nuclear-energy cooperation, the two Ministers agreed on launching inter-governmental working-level negotiations on a ROK-India agreement on nuclear-energy cooperation. Further, they agreed to work closely together on the implementation of an MOU on peaceful use of space, signed during the Korean President’s state visit to India this January, and on the establishment of a science-technology cooperation fund.

In addition to cooperation in discussions at regional cooperation bodies such as ARF (ASEAN Regional Forum) and ASEAN+3/EAS (East Asia Summit), the two Minister agreed to work together for the success of the G20 Seoul Summit this November and in addressing climate change and others on the international stage.

With regard to the Cheonan incident, Minister Yu extended appreciation for India’s issuance of a statement supporting the Korean position upon the announcement of the investigation results. The two Ministers agreed to consult closely on the international community’s response to this incident.

During Minister Krishna’s visit to Korea, the two sides concluded a cooperation MOU between the two countries’ government agencies overseeing small- and medium-sized enterprises; between the Korea Foundation and the Indian Council for Cultural Relations; and between the Institute of Foreign Affairs and National Security and the Indian Council for World Affairs.

Foreign Minister Krishna invited the Korean Foreign Minister to visit his country at a mutually convenient time in 2011 for the 7th ROK-India Joint Commission, which Minister Yu accepted.

The 6th ROK-India Joint Commission, the first of its kind since the upgrading of the ROK-India relationship to a strategic partnership as agreed during the Korean President’s state visit to India last January, is seen to have served as an arena for in-depth discussions on ways to strengthen substantive cooperation in various fields.