India and South Korea Hold 12th Round of CEPA Upgrade Talks
Yesterday, officials in New Delhi concluded the twelfth round of negotiations aimed at upgrading the Comprehensive Economic Partnership Agreement between India and South Korea.
The 12th round of negotiations to upgrade the Comprehensive Economic Partnership Agreement (CEPA) between India and South Korea took place in New Delhi. These talks aim to modernize the existing trade framework, which has been in effect since 2010, to address evolving trade dynamics and expand economic cooperation between the two nations.
The 12th round of negotiations to upgrade the Comprehensive Economic Partnership Agreement (CEPA) between India and South Korea concluded in New Delhi on Saturday, marking the latest effort to modernize a trade framework that has governed bilateral commerce since 2010 (PIB).
The talks aim to address evolving trade dynamics and expand economic cooperation between the two nations, moving beyond the original agreement that has been in effect for over a decade. While the PIB release confirmed the venue and the round number, it did not disclose specific agenda items, the composition of the delegations, or whether a timeline for concluding the upgrade was discussed.
The existing CEPA, which came into force in January 2010, covers trade in goods, services, and investments. Bilateral trade has grown significantly since its inception, though the balance has often tilted in South Korea's favour, driven by imports of electronics, machinery, and steel into India. Previous rounds of upgrade talks have sought to liberalize rules of origin, ease non-tariff barriers, and enhance market access for Indian professionals and agricultural products.
Officials have not indicated when the next round of discussions is scheduled. The outcome of these negotiations will determine whether the updated agreement can reflect current supply-chain realities and digital trade provisions absent from the original text.
PIB