India-Korea CEPA upgrade negotiations moved forward as the 12th round of talks was held in New Delhi from 25–27 May 2026, pursuant to the Joint Declaration signed on 20 April 2026 by Union Minister of Commerce and Industry Piyush Goyal and Korean Trade Minister Yeo Han-koo during the State Visit of the President of the Republic of Korea to India. Both sides had committed to accelerating the India-Korea Comprehensive Economic Partnership Agreement (CEPA) upgrade negotiations.
The negotiations were co-chaired by Kapil Chaudhary, Joint Secretary, Department of Commerce, Ministry of Commerce and Industry, Government of India, and Park Geun-oh, Director General for Trade Agreement Policy, Ministry of Trade, Industry and Energy (MOTIE), Republic of Korea.
Both sides reviewed the progress achieved so far in the India-Korea CEPA upgrade negotiations. The discussions were held in a constructive and cooperative spirit, reflecting the strong bilateral relationship and the “Futuristic Partnership” envisioned by Prime Minister Narendra Modi and President of the Republic of Korea Lee Jae-myung.
Both sides acknowledged India’s bilateral trade deficit, which has risen significantly since the India-Korea CEPA came into force in 2010, and agreed to address the issue within the overall India-Korea CEPA framework.
During the current round, discussions were held on Trade in Goods (TiG), Trade in Services (TiS), Rules of Origin (RoO) and Origin Procedures (OP), Investment, and Sanitary and Phytosanitary (SPS) standards.
It was also decided to constitute sub-groups to discuss cooperation in the areas of digital trade, supply chain cooperation, and strategic industrial cooperation.
India and Korea reaffirmed their commitment to conclude the CEPA upgrade negotiations in a time-bound manner, with the objective of achieving a modernised and mutually beneficial agreement that supports the shared vision of balanced bilateral trade and enhanced cooperation.
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