South Korea approves India (free trade) deal

[pampango]

Source: BBC

South Korea has ratified a free trade deal with India that will give the two Asian countries much greater access to each other's markets. Under the terms of the deal, import duties between the two parties will be reduced or eliminated.

India, where parliamentary approval is not needed for trade agreements, had already signed off the deal.

It is due to be implemented in January.

Last month, South Korea signed a trade pact with the EU to remove trade tariffs.

Read more: http://news.bbc.co.uk/2/hi/business/8346823.stm

[imdjh]

1. So India get Soul and Korea gets Tatas.

[seattle_blue]

2. Kimchibap is good....

[Vehl]

3. Interesting developement

Apart from the trade benefits, i smell that there is more going on.

Is this an effort by SK and India to counteract china's naval presence in that area?