By Philip Dorsey Iglauer
Staff Reporter
India’s Ambassador N. Parthasarathi speaks about the rapid growth in India-Korea trade during an interview at the Indian Embassy, Hannam-dong, Seoul. /Korea Times Photo by Lee Seong-ho The first-ever state visit of Indian President Abdul Kalam, from Feb. 6 to Feb. 9, signifies the importance India attaches to its relations with Korea, and will be an excellent chance to focus on the common values the two countries share.
The visit adds to the momentum toward comprehensive economic and political engagement.
"The deep connection the two countries have is evidenced by the marriage of Princess of Ayodhya, Hur Hwang-ho, and King Kim Suro, founder of the Kaya Kingdom, some 2,000 years ago," said India’s Ambassador N. Parthasarathi, in a Korea Times interview at the embassy in Seoul.
There are literally hundreds of references to India, however, in Korea’s "Samguk Yusa (The History of Three Kingdoms)," he said. "Sutras, moreover, were delivered in the Sanskrit language."
Trade and economics are important, and there will invariably be much talk on enhancing economic relations during the president’s visit, but according to the ambassador, the two countries share common traditions and have a similarity in thinking and values.’
Countries in this region are the fastest growing in the world. Korea and India face the problems endemic with fast-growing economies, he added.
"We have similar problems as a result, with the widening rich-poor gap, with providing quality health care, education and maintaining good infrastructure so that we can maintain high productivity into the future," he said.
President Roh Moo-hyun’s visit to India in October 2004 was a milestone in India-Korea relations.
Both countries seek to maintain peace and stability in Asia. Based on enhancing their relations, they agreed to a "Long-term Cooperative Partnership," and set up a joint study group to broaden economic exchanges.
Ministerial-level meetings were held in December 2004 and August 2005, and the two governments are taking steps to intensify links in many sectors in addition to economic ones. For example, a bilateral treaties extradition and on mutual legal assistance in criminal matters have been signed and enacted.
The Korean government office in Mumbai has been upgraded to that of Consular-General.
But Korea and India have not lost sight of the importance of trade. Korea is India’s ninth largest trading partner and India is Korea’s 19th largest partner and the pace of trade is faster than expected. They set a $10 billion target for 2008, but trade is already at $6 billion, so it should surpass expectations ahead of schedule.
Joint Business Council meetings and the Korea-India Joint Committee on Investment Promotion should further boost trade and investment relations.
POSCO is going through with plans to build a steel plant in Orissa, investing about $12 billion.
Korea is a success story, as the country has transformed an agrarian economy into a hi-tech industrialized nation in one generation, Parthasarathi said.
"There is undoubtedly a lot India can learn from Korea," he said.
"But we are on a different course," he added. "There is no other country with more than a billion people, with the tremendous linguistic, cultural and religious diversity and that has attempted to modernize its society and transform its economy within the framework of a functioning democracy."
India has achieved sustaining growth of 6 percent over the last 15 years and 7 percent the last two years, according the ambassador.
India’s economy is on an ascending trajectory, and Korea and India’s development models have many complementarities, and this is true, in part, because their societies share common Asian values, he said.
Korea’s foreign trade with the United States exceeded $500 billion in 2005. So, the bilateral trade with India is only 1 percent of that massive volume. That being said, trade with India has tripled the last decade.
Parthasarathi was effusive about all the pluses of India to Korean enterprise. Samsung, LG, Hyundai and other Korean companies have been very successful in India, the ambassador said.
India’s middle-class is large and expansive, and is a great consumer market for Korean exports. India has a lot to offer as a place for investment of Korea’s technologically sophisticated and surplus foreign reserves. India has a fast-growing middle-class, a skilled English-speaking workforce. It can also serve as a regional base to markets in the Middle East and South Asia.
Trade and enhancing mutual exchanges will be on the agenda of President Kalam, who, as a scientist. Is interested in scientific education and exchanges in know-how and technology.
He will visit Samsung’s semiconductor chip plant in Kihung, Kyonggi Province, and Taedok Science Town in Taejon. The two countries are to sign treaties with regard to scientific technology transfers and customs duties. Kalam will address four major business groups, including the Korea International Trade Association (KITA) during his visit.
India’s head of state is also interested in youth and the Asian leaders of tomorrow. He will give a special lecture at Yonsei University with emphasis on the importance of youth leadership, and will also address the National Assembly.
ephilip2005@hotmail.com
02-06-2006 21:00
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