India, South Korea finance ministers to meet in Delhi today

New Delhi, Jan.8: The fourth Indo-Korea finance ministerial meeting will be held here today.

The meeting will be attended by Finance Minister P. Chidambaram, Finance Secretary Sumit Bose, Economic Affairs Secretary Dr. Arvind Mayaram, and other senior officials.

The South Korean side will be represented by Hyun Oh Seok, Deputy Prime Minister and Minister of Strategy and Finance, Yoon Tae Yong, Director General, International Economic Affairs Bureau, Gwak Bum Gook, Director General, Treasury Bureau and Han Myung Jin, Director General, Tax Analysis and International Tax Affairs Bureau, besides others.

Both sides are expected discuss the macro-economic outlook of the world economy in general and of the two countries in specific along with general directions of policy responses to the same.

Besides it, both sides will also discuss about cooperation between the two countries under multi-lateral framework, including the G-20 and EAS and direction of bilateral collaboration.

Both sides will also discuss issues of mutual cooperation in trade and investment, including establishing a road map for mid-term and long term cooperation between Korea and India, cooperation between custom authorities and reducing difficulties in customs clearance, permitting SME cooperation between Korea and India and providing more investment opportunities in both the countries.

The two sides will also discuss revision of the Korea-India Double Taxation Convention (DTAC), bilateral cooperation between supervising agencies in the financial sector and cooperation in permission obtaining process to establish branches of Korea commercial banks in India.

Both sides will have general discussion on policies for permitting infrastructure development in India and Korea with opportunities for further cooperation. (ANI)