HomeIndia a global engine for growthIndia presents great potential for growth: South Korea’s Indo-Pacific strategy

India presents great potential for growth: South Korea’s Indo-Pacific strategy

Source : Asian News International (ANI)

India presents great potential for growth: South Korea’s Indo-Pacific strategy
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Seoul [South Korea]: India is a country with “great potential for growth” due to its largest population and cutting-edge IT and space technologies, the South Korean Foreign Ministry said on Wednesday in its newly released strategy document.

Under its Indo-Pacific strategy released on Wednesday, Seoul plans to increase its engagement with and support key partners in South Asia. In the policy document, South Korea has expressed the desire to advance its special strategic partnership with India.

“With 24 per cent of the world’s population and situated at the crossroads of East and West Asia, and between land and sea, South Asia is a region with huge potential for growth. The Republic of Korea will increase its engagement with and support for key partners in South Asia,” the South Korean Foreign Ministry said.

“First, we will advance our special strategic partnership with India, a leading regional partner with shared values. India presents great potential for growth, having the world’s second-largest population and cutting-edge IT and space technologies,” the policy document added.

The South Korean Foreign Ministry states the Asian country will increase strategic communication and cooperation through high-level foreign affairs and defence exchanges.

“We will increase strategic communication and cooperation through high-level exchanges in foreign affairs and defence, while strengthening the foundation for enhanced economic cooperation by upgrading the ROK-India Comprehensive Economic Partnership Agreement (CEPA),” the document added.

The Republic of Korea said its national interests are directly tied to the stability and prosperity in the region.

“Home to 65 per cent of the world population, the Indo-Pacific accounts for 62 per cent of the world’s GDP, 46 per cent of international trade, and half of global maritime transport. It is also an economically and technologically dynamic region where our key partners of strategic industries such as semiconductors are located,” the document read.

It says that a free, peaceful, and prosperous Indo-Pacific is essential for the future of the global community.

“In order for the Indo-Pacific region to be free, peaceful, and continuously prosperous, cooperation amongst countries in and outside the region is more keenly needed now than ever before,” the document said.

“When the rules-based order which has contributed to the stability and prosperity of the region is strengthened and the regional order based on universal values is realized, the Indo-Pacific will become a region where diverse countries coexist and prosper in harmony,” it added. (ANI)

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