San Francisco: Union Commerce Minister Piyush Goyal on Monday (local time) met his counterparts from South Korea and Singapore and held bilateral meetings with the trade ministers of both countries in San Francisco.

Goyal is on a 4-day visit to San Francisco to attend the Indo-Pacific Economic Framework (IPEF) ministerial meeting. He has also been invited to attend the Asia-Pacific Economic Cooperation Summit there.

On the sidelines of the Indo-Pacific Economic Framework (IPEF), he met South Korean Trade Minister Ahn Duk-Geun as well as Singapore Minister for Trade and Industry Gan Kim Yong.

The strategic ties between India and South Korea have always been mutually beneficial.

During the meeting, the leaders emphasised ways of enhancing cooperation in emerging and futuristic areas.

India and Singapore have a close bilateral relationship based on the convergence of economic and political interests, and the economic reforms in India since the early 1990s have created a strong basis for cooperation with Singapore, opening up possibilities for a significant presence in each other's economies.

The close ties between the two Asian countries have a history rooted in strong commercial, cultural and people-to-people links across a millennium. The relations are based on shared values and approaches, economic opportunities and convergence of interests on key issues. There are more than 20 regular bilateral mechanisms, dialogues and exercises.

India has been invited to the 30th APEC Economic Leaders' Meeting 2023 as a 'Guest Economy'. These meetings will focus on addressing trade barriers, promoting investments, and fostering greater cooperation in areas such as technology and innovation.

One of the key focuses of the visit will be the joint event, co-chaired with US Commerce Secretary, Gina Raimondo on the "India-USA Innovation Handshake Initiative", with the aim to lift up and connect the two sides' dynamic startup ecosystems, address specific regulatory hurdles to cooperation, and promote further innovation and job growth, particularly in emerging technologies.

The Commerce and Industry Minister will also participate in the investors' roundtable along with one-to-one meetings with CEOs. He will also interact with various stakeholders, such as students, entrepreneurs, venture capitalists and the Indian diaspora.