FM to meet South Korean Deputy PM tomorrow

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Finance Minister P Chidambaram will meet South Korean Deputy Prime Minister and Minister of Strategy and Finance Hyun Oh Seok tomorrow to discuss ties between the two nations alongwith global macro-economic outlook.

"The 4th Indo-Korea Finance Ministerial meeting will be held tomorrow in the national capital. Both the sides will discuss issues of mutual cooperation in trade and investment, including establishing a road map for mid-term and long-term cooperation between Korea and India," the Finance Ministry said in a statement.

Besides, both the sides will also discuss about cooperation between the two countries under multi-lateral framework, including the G-20 and the East Asia Summit (EAS) and direction of bilateral collaboration, it added.

The two sides will also discuss revision of the Korea- India Double Taxation Convention (DTAC), bi-lateral cooperation between supervising agencies in the financial sector and cooperation in permission obtaining process to establish branches of Korea commercial banks in India.

The meeting will be also attended by Finance Secretary Sumit Bose, Department of Economic Affairs Secretary Arvind Mayaram other senior officials on behalf of the government of India.

Both the sides will have general discussion on policies for permitting infrastructure development in India and Korea with opportunities for further cooperation, the statement said.

Korean delegation will be lead by Hyun Oh Seok, along with Yoon Tae Yong, Director General, International Economic Affairs Bureau and Gwak Bum Gook, Director General, Treasury Bureau, among others.

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