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India should seek mkt for services in trade with Korea: FICCI

Economic Times, India

India should seek mkt for services in trade with Korea: FICCI

16 December 2007

PTI. NEW DELHI: India must seek greater market access for professionals and service-providers in Korea when officials from the two sides meet here for negotiating the proposed bilateral trade pact, industry body FICCI said.

"The issue has to be taken up with the Korean side in the ninth round of negotiations on the India-Korea Comprehensive Economic Partnership Agreement beginning December 18," FICCI President Habil Khorakiwala said in a release here.

The two countries have been negotiating a bilateral pact since 2004, when Korean President Roh Moo-hyun visited India.

FICCI said in its FTA negotiations with the US, Korea has improved upon its WTO commitments in all major service areas. Similarly, in the ASEAN-Korea FTA in services signed last month, Korea’s offer is better than its offer under the current Doha Round of multilateral trade negotiations.

"It would be in the interest of Indian industry to secure concessions and market access for our service-providers in the FTA, which would be higher than Korea’s present level of WTO commitments," he said.

To facilitate market access for Indian professionals, the two countries could enter into Mutual Recognition Agreements (MRAs) in areas of professional services, FICCI said.

On movement of personnel, it said India could take up the case of specific categories of natural persons, namely, business visitors, intra-corporate transferees, contractual service suppliers and independent professionals to facilitate entry of Indian professionals into Korea.