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Journalism of Courage
India and South Korea today signed an extradition treaty and agreed to set up a joint study group to come up with recommendations on improving trade and investment ties. The group would also examine the possibility of an economic partnership agreement.
The treaties were signed in the presence of PM Manmohan Singh and South Korean President Roh Moo-Hyun by External Affairs Minister Natwar Singh and his South Korean counterpart Ban ki-Moon.
Slated to begin work in January next year, the study group comprising officials and members of the business community from either side would submit its report in a year.
During a 90-minute talk, Moo-Hyun is also said to have raised the issue of the $8.4-billion investment proposed by Posco, which plans to set up a steel plant in Orissa, but is awaiting licence to mine iron ore.
South Block officials said Singh assured Moo-Hyun that India was doing its best to create a favourable climate for FDI. Like Posco, several South Korean companies are believed to have lined up investment proposals.
The extradition treaty provides the legal framework for seeking extradition of fugitives including those who may be wanted in economic offences. The treaty on mutual legal assistance aims at providing a cooperative framework to prevent, investigate, prosecute and suppress crime falling in the jurisdiction of both countries.
