Strategic Importance of India’s Triangular Development Partnerships and Implications for Korea

Kyunghoon Kim ()
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Kyunghoon Kim: KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP), Postal: [30147] Building C, Sejong National Research Complex, 370, Sicheong-daero, Sejong-si, Korea, http://www.kiep.go.kr/eng/

No 24-32, World Economy Brief from Korea Institute for International Economic Policy

Abstract: While projects of India’s triangular development partnerships have been ongoing for some time, the recent formalization of mechanisms between India and traditional donors is noteworthy. This progress is based on aligning strategies to strengthen relationships with the Global South. In addition to strengthening bilateral cooperation, Korea should explore opportunities for triangular cooperation with India. Through such partnerships, Korea and India can jointly address development challenges and promote prosperity in the Indo-Pacific. Both countries have demonstrated exceptional development performance, and their combined support could be valuable to many developing countries, especially amid an era of great power competition. Following intensive discussions between high-level officials, Korea and India should aim to establish a formal agreement that outlines their general goals and mechanisms, similar to the agreements India has with other advanced countries. In the short term, focusing on overlapping target countries, such as Bangladesh and Myanmar, could be mutually beneficial. Korea should also leverage the region-based bodies in South Asia and India-led minilateral and multilateral development platforms.

Keywords: Triangular Development Partnerships; India-Korea Cooperation; Global South Bilateral Cooperation; Indo-Pacific Prosperity; Development Challenges; Great Power Competition; Development Performance; Minilateral Platforms; South Asia Regional Bodies (search for similar items in EconPapers)
Pages: 6 pages
Date: 2024-11-15
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