South Korea and India held the 5th Korea-India Foreign Policy and Security Dialogue (FPSD) in Seoul on Monday, during which they agreed to strengthen their “Special Strategic Partnership,” through the Foreign Minister-level Joint Commission Meeting and the ‘2+2’ dialogue that involves both sides’ foreign and defence ministries at the Vice Minister/Secretary level.
The event was hosted by South Korea’s First Vice Minister of Foreign Affairs Cho Hyundong and the Secretary (East) of India’s Ministry of External Affairs (MEA) Saurabh Kumar.
This was their first high-level meeting this year, which also marked the 50th anniversary of the countries’ bilateral diplomatic ties.
Economic Outcomes
According to the MEA, on the occasion of the golden jubilee of official relations, both sides agreed to deepen cooperation in
- Trade and investment;
- Security and defence;
- Science and technology; and
- Cultural and people-to-people exchanges
5th India-South Korea hold Foreign Policy and Security Dialogue (FPSD). India readout says,'two sides noted that ROK’s recently announced Indo-Pacific Strategy provides an opportunity to deepen bilateral cooperation including expanding it to new areas" pic.twitter.com/vFEubEWer0
— Sidhant Sibal (@sidhant) January 17, 2023
Kumar also invited Korean companies to invest in India’s manufacturing and infrastructure sectors. Accordingly, both ministers agreed to “make global supply chains more resilient and robust.”
Noting that bilateral trade had reached an all-time high of $28 billion, they further agreed to realise the common vision of raising it to $50 billion by 2030.
Political Outcomes
Regarding North Korea, both agreed that its “unprecedented number of ballistic missile launches” posed “a serious threat” to the entire international community.
To this end, they concurred on the need for “a firm and united response of the international community.”
Kumar reaffirmed India’s support for South Korea’s policy towards North Korea and its efforts to achieve “sustainable peace” on the Peninsula through the North’s complete denuclearisation.
Additionally, Cho briefed Kumar on Seoul’s newly released Indo-Pacific Strategy, which Kumar said provided an “opportunity to deepen bilateral cooperation” in the region.
Moreover, Kumar briefed Cho on New Delhi’s priorities during its presidency of the G20, for which Seoul offered its support.