South Korea to have consulate in Mumbai

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South Korea to have consulate in Mumbai

 

By Indo-Asian News Service, October 6, 2005


New Delhi, Oct 6 (IANS) In a move that will boost trade and investment activities, South Korea has decided to upgrade its representation in Mumbai as a consulate general by next year.

The decision was conveyed during talks held between visiting South Korean President Roh Moo-hyun and Prime Minister Manmohan Singh Tuesday.

A joint statement issued at the end of Roh's three-day state visit Wednesday said the decision to upgrade South Korea's Mumbai office was taken considering the importance of the city as "an economic and trade centre in India".

The process of upgrading will be completed "at the earliest possible date in 2005," the statement said.

New Delhi welcomed the decision, noting that a consulate general in Mumbai would contribute to the enhancement of cooperation in trade and investment between the two countries, which has been steadily rising.

The two sides have resolved to take bilateral economic partnership to a higher level, taking advantage of the complementarities in the economies and synergies in trade, investment and high-tech areas.

India and South Korea have set a target of achieving $10 billion worth of bilateral trade by 2008 as against just over $3 billion now.

 

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