New Delhi: While seeking to enhance economic ties with India, Korea today (Oct 5, 2004) categorically ruled out any relaxation in its sanitary and phyto-sanitary standards for Indian exports.

"Government does not have enough room to manoeuvre on these areas (sanitary and phyto-sanitary standards). It would be very difficult for me to do any thing on this. Koreans are very meticulous about safety of food products..." Korean President Roh Moo-hyun told a business meeting organised by CII (Confederation of Indian Industries) and FICCI (Federation of Indian Chambers of Commerce and Industry).

Responding to the issue raised by Commerce Minister Kamal Nath on the adverse balance of trade and non-tariff barriers on Indian exports, he said Korean people were very touchy about safety of food and any compromise on safety aspects led to severe criticism of the Government by the media.

Asking India to take a leaf out of the Korean model of economic growth, he said trade deficit should not be looked in isolation as imports led to investment and generation of jobs and helped the country become an export economy.

Speaking on the occasion, Nath said the two countries should aim at annual trade of $10 billion over next three years and average annual investment of $1 billion.

Referring to the proposed Comprehensive Economic Partnership between India and Korea, he said the group which would discuss the framework of the economic partnership including a Free Trade Agreement would go about its work in a target-oriented manner.