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Lee?s India Visit to Focus on Nuclear, IT Exchange
President Lee Myung-bak's planned visit to India from Jan. 24 to 27 is expected to pave the way for closer bilateral cooperation in the development of nuclear and information technologies, officials here said Wednesday.
Lee may focus on ``sales diplomacy'' in India, holding active discussions with policymakers and businesspeople there to lay the groundwork for Korean firms to secure more opportunities.
According to sources, Lee and India's Prime Minister Manmohan Singh may sign a pact on nuclear technology exchange for peaceful purposes at their summit slated for Monday in New Delhi, opening the way for Korean firms to participate in India's project to build nuclear reactors.
The accord doesn't guarantee any actual construction deals between the two countries, but it means India will allow Korean firms to participate in bidding for the plants, a Cheong Wa Dae spokesman said.
After signing a $20 billion deal to build four reactors in the United Arab Emirates last month, the administration announced a master plan to nurture the country's indigenous nuclear plant into a key export item like automobiles, semiconductors and ships. Reports said Turkey will follow suit soon to import nuclear reactors from Korea.
Lee's India visit also provides a crucial opportunity for the two nations to discuss ways to set the future course of action following the Comprehensive Economic Partnership Agreement (CEPA), the de-facto free trade accord that took effect in early January.
``There will be active exchange of opinions this time to promote Korea-India trade and cultural exchanges based on the CEPA,'' the presidential spokesman told The Korea Times.
``This means Korea can explore export markets in a fast-developing country with a population of 1.2 billion. Ties with India are crucial for our economic prosperity in the future.''
On the sidelines of the summit, Air Force officers will hold talks with their Indian counterparts to export KT-1 basic trainer. India is pushing for a project to replace its training aircraft in a bid to improve its defense capabilities and the Korean plane is a strong candidate. Korea has exported the KT-1s to Turkey and Indonesia.
The Indian government has also expressed keen interest in importing T-50 supersonic trainer jets, sources said.
President Lee will also ask for India's support for POSCO, the country's largest steelmaker, and other Korean firms seeking a deal to build a steel mill in southern India.
Upon arrival in the industrial city of Chennai Sunday, Lee will attend a business forum hosted by Korean businesses operating there.
He will move to New Delhi for a summit with Prime Minister Singh Monday and to meet with the country's political and business leaders. Lee plans to lecture on Korea-India economic ties at a university.
The next day, he will observe a parade marking Republic Day, India's largest national celebration, as ``Chief Guest'' and meet with Korean community leaders in the Indian capital.
On Jan. 27, he will depart for Switzerland to attend the World Economic Forum in the ski resort of Davos.
President Lee Myung-bak's planned visit to India from Jan. 24 to 27 is expected to pave the way for closer bilateral cooperation in the development of nuclear and information technologies, officials here said Wednesday.
Lee may focus on ``sales diplomacy'' in India, holding active discussions with policymakers and businesspeople there to lay the groundwork for Korean firms to secure more opportunities.
According to sources, Lee and India's Prime Minister Manmohan Singh may sign a pact on nuclear technology exchange for peaceful purposes at their summit slated for Monday in New Delhi, opening the way for Korean firms to participate in India's project to build nuclear reactors.
The accord doesn't guarantee any actual construction deals between the two countries, but it means India will allow Korean firms to participate in bidding for the plants, a Cheong Wa Dae spokesman said.
After signing a $20 billion deal to build four reactors in the United Arab Emirates last month, the administration announced a master plan to nurture the country's indigenous nuclear plant into a key export item like automobiles, semiconductors and ships. Reports said Turkey will follow suit soon to import nuclear reactors from Korea.
Lee's India visit also provides a crucial opportunity for the two nations to discuss ways to set the future course of action following the Comprehensive Economic Partnership Agreement (CEPA), the de-facto free trade accord that took effect in early January.
``There will be active exchange of opinions this time to promote Korea-India trade and cultural exchanges based on the CEPA,'' the presidential spokesman told The Korea Times.
``This means Korea can explore export markets in a fast-developing country with a population of 1.2 billion. Ties with India are crucial for our economic prosperity in the future.''
On the sidelines of the summit, Air Force officers will hold talks with their Indian counterparts to export KT-1 basic trainer. India is pushing for a project to replace its training aircraft in a bid to improve its defense capabilities and the Korean plane is a strong candidate. Korea has exported the KT-1s to Turkey and Indonesia.
The Indian government has also expressed keen interest in importing T-50 supersonic trainer jets, sources said.
President Lee will also ask for India's support for POSCO, the country's largest steelmaker, and other Korean firms seeking a deal to build a steel mill in southern India.
Upon arrival in the industrial city of Chennai Sunday, Lee will attend a business forum hosted by Korean businesses operating there.
He will move to New Delhi for a summit with Prime Minister Singh Monday and to meet with the country's political and business leaders. Lee plans to lecture on Korea-India economic ties at a university.
The next day, he will observe a parade marking Republic Day, India's largest national celebration, as ``Chief Guest'' and meet with Korean community leaders in the Indian capital.
On Jan. 27, he will depart for Switzerland to attend the World Economic Forum in the ski resort of Davos.