India, May 26 -- India and South Korea on Monday began the next round of negotiations to upgrade the Comprehensive Economic Partnership Agreement (CEPA), which was implemented in January 2010, an official said.

The three-day talks (May 25-27) are important, as India has flagged serious concerns about the widening trade deficit between the two countries.

"This is the 12th round of India-Korea CEPA upgrade negotiations," the Government official said.

On April 20, Commerce and Industry Minister Piyush Goyal had proposed to his Korean counterpart, Yeo Han-koo, to consider negotiating a fresh bilateral free trade agreement to make it more contemporary and address concerns over the trade deficit, the difference between imports and exports. ...