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Korea, India Sign Deal to Boost Economic Cooperation
�� �� The finance ministries of South Korea and India have signed a tentative deal to share their policy experiences as part of efforts to boost bilateral cooperation, ministry officials here said Monday.

Under the memorandum of understanding (MOU) signed on Feb. 7, both agreed to push for cooperation on a wide range of issues, including polices related to macro economy, taxation, operation of public organizations and personnel development, according to the officials.

This marked the third such deal that the finance ministry has inked with its counterparts in other countries. It signed similar pacts with Uzbekistan and Vietnam in August 2011 and March 2012.

"Thanks to the deal, we will be able to share our policy experience in the economic field with India, which is expected to make a practical contribution to boosting bilateral economic cooperation," the ministry said in a press release.

"This will also provide us with a chance to share India's experience in such strong areas as IT and space science."

The deal is a follow-up on a cooperation agreement made by the finance ministers of the two countries during their third annual meeting held in Seoul last November.

They plan to hold their next meeting in the second half of this year to draw up detailed action plans for the MOU, the ministry said.

Source Text

Source: Yonhap News (Feb. 18, 2013)

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