MUMBAI, INDIA - Mr. Soung-eun Kim, Consul General of the Republic of Korea, visited World Trade Centre Mumbai to discuss ways to stimulate bilateral trade and investment between India and South Korea on July 5, 2016.

Mr. Kim held extensive discussion with Mr Kamal Morarka, Chairman, World Trade Centre Mumbai, Capt. Somesh Batra, Vice Chairman, World Trade Centre Mumbai and other officials of the centre on future roadmap to strengthen economic co-operation between both the nations.

Other officials of the World Trade Centre Mumbai who attended the discussion were Ms. Rupa Naik, Director-Projects, World Trade Centre Mumbai and Mr. Y. R. Warerkar, Executive Director, World Trade Centre Mumbai.

Mr. Kim emphasized the need to exchange high level delegation, conducting trade shows and other trade promotion activities to promote economies of both the countries.

Mr. Kim’s visit to India assumes significance as it coincides with the efforts of the governments of South Korea and India to review the Comprehensive Economic Partnership Agreement (CEPA) between both countries.

South Korea is the eighth largest trading partner of India with bilateral trade between both the countries at USD 16.59 billion as of 2015-16. Experts project that the bilateral trade volume between both countries would double in the next 3 years.

Prime Minister Narendra Modi’s visit to South Korea in May 2015 and G-Fair Korea 2016 held in Mumbai have evoked interest amongst the business community.

Mr Morarka, who was the convener of the meeting, expressed his keen interest in strengthening trade ties with South Korea and invited trade delegations to explore investment opportunities in infrastructure sector in the wake of the 100 smart cites project being planned by Prime Minister Mr. Narendra Modi.

“Maharashtra being the economic and commercial capital of India and a premier industrial state, South Korean companies such as LG Group, Hyundai, Posco, Daewoo have set up operations here. World Trade Center Mumbai extends all possible support and assistance to such companies looking to invest in Maharashtra,” Mr. Morarka remarked.

He further added, “World Trade Centre Mumbai will lead a delegation to South Korea in September 2016 to visit the Buyer Delegation Program and seek collaborations in sectors such as ports, construction, power, infrastructure, engineering and automobiles”. Mr. Morarka finally expressed confidence that under the leadership of the consul general, trade promotion and investment activities will be further enhanced.

Capt. Batra said, “India has immense opportunity in almost every sector, since it is a consumer market with the second largest population. Specifically, there is a huge unmet demand in the construction sector.”

PHOTO: Mr. Soung-eun Kim, Consul General of the Republic of Korea in Mumbai (middle) being felicitated by Mr. Kamal Morarka, Chairman, World Trade Centre (WTC) Mumbai during his visit to WTC Mumbai on July 5, 2016. Also seen in the photograph is Capt. Somesh Batra, Vice Chairman, WTC Mumbai.

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