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India, S. Korea finance ministerial meeting today

Issues like reduction in customs clearances, cooperation in promoting small medium enterprises (SME) between Korea and India will also be taken up on Monday at the fourth Indo-Korea finance ministerial meeting in New Delhi.

"The fourth Indo-Korea finance ministerial meeting to discuss mutual cooperation in trade and investment between both the countries will be held Jan 8," government said Tuesday.

The meeting to establish mid and long term cooperation between the two sides in trade and investment will be headed by Indian Finance Minister P. Chidambaram and Hyun Oh Seok, deputy prime minister and minister of strategy and finance, Republic of Korea.

"Two sides will 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 finance ministry said in a statement.

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