The next Pravasi Bharatiya Divas (PBD) Convention will be held at Vigyan Bhawan, New Delhi on 07-09 January 2010.

The eighth edition of this flagship event of the Ministry of Overseas Indian Affairs has been differently structured this time around with a view to provide the delegates with an opportunity to interact with:

(i) Cabinet Ministers from India
(ii) PIO Ministers/dignitaries from other countries
(iii) State Chief Ministers

PBD-2010 will also see the launching of an annual Lecture series “PBD Oration” under the overarching theme of ‘India and its Diaspora: Everlasting Bonds of Togetherness’. The first in this lecture series will be delivered by Prof. Jagdish Bhagwati, an eminent Person of Indian Origin (PIO).

The convention will have four concurrent sessions on: ‘Investment’, ‘Knowledge’, ‘Philanthropy’ and ‘Gender Issues’.

Seminars on ‘Nano-Technology’ and ‘property-rated issues’ of NRIs/PIOs are also to be held.

The high-profile convention will be inaugurated by the Prime Minister of India on January 8, 2010. President of India will deliver the valedictory address on January 9, 2010 and would confer Pravasi Bharathiya Samman Awards for 2010.

The Convention is being organized by the Ministry of Overseas Indian Affairs (MOIA), in partnership with the Government of NCT of Delhi. The Confederation of Indian Industry (CII) would be the institutional partner. Online registration for participation has already been started. Visit http://pbdindia.org/index.html for further details.

India today signed a Comprehensive Economic Partnership Agreement (CEPA) with Republic of Korea. The Agreement on behalf of India was signed by Mr. Anand Sharma, Commerce and Industry Minister, in Seoul. Mr. Kim Jong-hoon, Korean Trade Minister signed the Agreement on behalf of Republic of Korea. This is India’s second comprehensive deal with any country, first being with Singapore in 2005. This is also India’s first Free Trade Agreement with an OECD country. CEPA is more than Free Trade Agreement as it covers not only Trade in Goods but also Investments, Services and Bilateral Cooperation in other areas of common interest.

Under the CEPA Agreement, tariffs will be reduced or eliminated on 93% of Korea’s tariff lines and 85% of India’s tariff lines. It will facilitate Trade in Services through additional commitments made by both countries to ease movement of Independent Professional and Contractual Service Suppliers. Both countries have committed to provide national treatment and protect each other’s investments to give a boost to bilateral investments in all sectors except these specifically exempted from it.

The CEPA will come into force after it is ratified by the Korean National Assembly and the notifications to bring it into effect are made by the two countries.

The Minister of Foreign Affairs and Trade of the Republic of Korea, His Excellency Mr. Yu Myung-hwan, paid an official visit to India on 23rd June 2009. He held delegation level talks with the External Affairs Minister. He also called on the Prime Minister and had a separate meeting with the Minister of Commerce and Industry.

2. During the official talks, the External Affairs Minister and the Minister of Foreign Affairs and Trade of the ROK reviewed the state of bilateral relations in a warm and cordial atmosphere. The two sides also reiterated their commitment to further strengthening the Long-term Cooperative Partnership for Peace and Prosperity that was established between the two countries in 2004.

3. They agreed on the importance of having regular high level political level contacts and exchanges, and discussed proposals in this regard. The two Ministers also emphasized that the official dialogue mechanisms established by the two sides should continue to meet on a regular basis. They also discussed economic and commercial relations between India and the ROK, and expressed their happiness that the two sides are close to concluding a bilateral Comprehensive Economic Partnership Agreement, which will give a further boost to the expanding economic partnership between the two countries.

4. The ROK Foreign Minister expressed happiness at the steady expansion of bilateral trade (US$ 15 billion according to Korean Customs Statistics), and also said that a growing number of Korean companies are looking at investing in India. The External Affairs Minister welcomed Korean investment in India. He conveyed that Government attaches priority to ensuring that Korean companies have a conducive investment environment. He also expressed the hope that other agreements that are under negotiation between the two sides, including a revised Double Taxation Avoidance Convention, can be concluded as soon as possible. The two Ministers also discussed ways of enhancing functional cooperation between India and ROK, including in civil aviation, shipping, energy and culture.

5. The two sides exchanged views on regional and international issues of mutual concern and importance. The Korean Foreign Minister briefed External Affairs Minister about the situation in the Korean peninsula. The two Ministers shared the view that it is important for the DPRK to return to the Six-Party Talks. The External Affairs Minister also briefed the ROK Foreign Minister on the situation in India’s neighborhood.

6. H.E. Mr. Yu Myung-hwan has extended an invitation to External Affairs Minister to visit Republic of Korea at a mutually convenient time. The External Affairs Minister has accepted the invitation. The dates will be worked out through the normal diplomatic channels.

..................................................................................................................................................................................................................................................

Indian Naval Ship INS Jyoti will be making a goodwill visit at Busan from 20-22 April 2009. Commissioned in 1996, INS Jyoti is a Fleet Replenishment Tanker and at a full load displacement of 39,700 tons, it is the largest ship in the Indian Navy.

During the course of the visit, the ship will be open to Korean visitors and will have friendship events with ROK Navy.