South Korea's president on Thursday welcomed India's idea of forming an economic bloc that comprises East Asian nations and India. President Roh Moo-hyun praised the proposal when he met Indian Foreign Minister Natwar Singh, who is visiting South Korea to promote trade, investment and other bilateral ties. "President Roh said that he welcomed the basic idea although further discussions are necessary on its system and procedural matters," said deputy presidential spokesman Kim Man-soo. Singh arrived here Tuesday for a three-day visit to follow up on an earlier agreement to strengthen economic cooperation. During a trip to New Delhi by Roh in October, the two countries agreed to build two-way trade to US$10 billion (¤8.1 billion) by 2008.
