India, South Korea to discuss market access issues on Tuesday

India will take up concerns regarding the market access impediments and non-tariff barriers faced by Indian exporters with South Korea on Tuesday, a statement by the commerce and industry ministry said. 

Concerns regarding a trade deficit, which is in favour of the East Asian nation, will also be taken up during a bilateral meeting between Commerce and Industry Minister Piyush Goyal and Trade Minister of the Republic of Korea Han-koo Yeo. India’s trade deficit against South Korea continued to remain high over the past few years. 

Exports did not witness a massive jump, despite a free trade agreement between both nations. Bilateral trade between India and South Korea during April-October stood at $13.69 billion, with a trade deficit of $5.29 billion. 

“The discussion will also feature investment related issues. The meeting is expected to further boost India-Korea trade relations in an equitable and balanced manner to the mutual advantage of both countries,” the statement said.