New Delhi Correspondent
India and South Korea on Tuesday signed an agreement providing for collaboration in the Artificial Intelligence (AI) in the growing and lucrative market across the world.
The two countries also inked a joint statement on Early Harvest Package of upgraded Comprehensive Economic Partnership Agreement (CEPA) by identifying key areas for trade liberalization including exports of shrimp, molluscs and processed fish from India.
The agreements were among the 11 MoUs inked by the two countries after visiting South Korean President Moon Jae-in, on a four-day tour of India held talks with Prime Minister Narendra Modi here.
Later, Modi told a joint press conference with Moon that their focus on strengthening the bilateral strategic partnership underpinned by trade and economic engagement.
The Artificial Intelligence was identified as among the thrust areas along with Internet of Things (IOT), Big Data, Smart Factory, 3D Printing, Electric Vehicle, Advance Materials and affordable healthcare for the elderly and disabled under the MoU on Future Strategy Group which seeks to foster cooperation in development of cutting-edge technologies for commercialization to reap benefits of the fourth Industrial Revolution.
A separate MoU was signed on cooperation in the field of ICT and Telecommunications envisaging development, modernization and expansion of state-of-the-art services and next generation wireless communication networks such as 5G, cloud computing, big data, IOT, AI and their applications in services, disaster management, emergency response, and cyber security.
The Early Harvest Package was signed to facilitate ongoing negotiations on upgrading the India-South Korea CEPA by including the exports of marine products from India.
Seeking to take the bilateral trade beyond the existing 20 billion dollar level, the two countries also inked an MoU on Trade Remedies for cooperation in the area of anti-dumping, subsidy, countervailing and safeguard measures and exchange of information through establishment of a committee comprising government officials and domain experts.
The two countries also inked an MoU on cooperation in biotechnology and bio-economics for cooperation in adoption of biotechnology and Bio Big-Data in health, medicine, agro fishery products, digital healthcare, precision medicine, brain research, and next generation-medical equipment.
They also signed an MoU on cooperation in scientific and technological research, including in areas of affordable water purification technologies, intelligent transport systems, new or alternative materials, traditional and oriental medicines and technology packaging and commercialization.
Modi said leading South Korean companies not only invested in India but also joined the “Make-in-India”programme to generate jobs in this country and turn into a major manufacturing hub. He said South Korea’s remarkable economic prosperity despite hurdles inspires India.