India, ROK commit to setting up shipyards in India under energy cooperation

This joint statement between India and the Republic of Korea (ROK) reaffirms their commitment to strengthening energy resource security, trade, and supply chain resilience. It outlines specific efforts to maintain stable supplies of petroleum products and deepen cooperation in the shipbuilding sector.

India and the Republic of Korea (ROK); sectors include energy resources (naphtha, petroleum feedstocks, petroleum products, lubricant base oils, LNG), maritime infrastructure, and shipbuilding.

• Advance energy resource trade and investment cooperation through the India-ROK Comprehensive Economic Partnership Agreement (CEPA).
• Maintain open trade in naphtha and other petroleum products.
• Explore closer collaboration among major LNG-consuming countries to enhance market stability and transparency.
• Strengthen cooperation in the shipbuilding sector, including setting up shipyards in India, shipyard modernization, human resource development, and technology partnerships.

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