India, South Korea Hold 12th Round of CEPA Upgrade Talks in New Delhi.
Both Nations Aim for Balanced Trade Partnership, Expand Cooperation in Digital Trade and Supply Chains.
New Delhi:
India and the Republic of Korea have reaffirmed their commitment to strengthening bilateral economic ties during the 12th round of negotiations for upgrading the India-Korea Comprehensive Economic Partnership Agreement (IK CEPA), held in New Delhi from May 25 to 27.
The high-level negotiations were conducted following the Joint Declaration signed on April 20, 2026, during the State Visit of the President of the Republic of Korea to India. In the declaration, Union Commerce and Industry Minister Piyush Goyal and Korean Trade Minister Yeo Han-koo had agreed to accelerate discussions on upgrading the existing trade pact.
The latest round of negotiations was co-chaired by Kapil Chaudhary, Joint Secretary in the Department of Commerce, Ministry of Commerce and Industry, Government of India, and Park Geun-oh, Director General for Trade Agreement Policy at the Ministry of Trade, Industry and Energy (MOTIE), Republic of Korea.
According to officials, both sides reviewed the progress made in the negotiations so far and held discussions in a constructive and cooperative atmosphere. The talks reflected the strong bilateral relationship between the two countries and the shared vision of a “Futuristic Partnership” championed by Prime Minister Narendra Modi and South Korean President Lee Jae-myung.
A key issue discussed during the negotiations was India’s growing bilateral trade deficit with South Korea, which has widened significantly since the original IK CEPA came into effect in 2010. Both countries acknowledged the concern and agreed to address the imbalance within the framework of the upgraded agreement.
The negotiations covered several major areas, including Trade in Goods (TiG), Trade in Services (TiS), Rules of Origin (RoO), Origin Procedures (OP), Investment, and Sanitary and Phytosanitary (SPS) standards.
In a significant development, India and South Korea also agreed to establish dedicated sub-groups to deepen cooperation in emerging and strategic sectors such as digital trade, supply chain resilience, and strategic industrial cooperation.
Officials from both countries reiterated their commitment to concluding the CEPA upgrade negotiations in a time-bound manner. The objective is to create a modern, balanced, and mutually beneficial trade agreement that enhances bilateral trade and economic cooperation while supporting future growth opportunities for both nations.
The India-Korea CEPA, originally signed in 2009 and implemented in 2010, serves as a key framework for trade and investment cooperation between the two Asian economies.
