President Ram Nath Kovind has said that the economic partnership between India and South Korea is strong and vibrant and the visit of the South Korean President will infuse a new momentum.
Welcoming President of South Korea Moon Jae-in at the Rashtrapati Bhavan last evening, Mr Kovind said, India’s Act East policy harmonises neatly with South Korean “New Southern Community”. He said, as democracies and as countries that seek ethical market practices, it is logical for both countries to work together for an inclusive, equitable, stable, secure and rules-based international order.
The President expressed happiness that the India-South Korea economic ties are strengthening and the bilateral trade crossed 20 billion dollars in 2017, posing an impressive 25 per cent annual growth.
He congratulated the South Korean President for his efforts and determination in turning the security situation prevailing in the Korean Peninsula into a stable and peaceful one. The President also hosted a banquet in honour of the visiting leader.