India and Korea have agreed to address New Delhi’s concerns over the widening bilateral trade deficit within the framework of the existing Comprehensive Economic Partnership Agreement (CEPA), instead of negotiating a fresh trade pact. “Both sides acknowledged India’s bilateral trade deficit, which has risen significantly since the India-Korea CEPA came into force in 2010, and agreed to address the issue within the overall India-Korea CEPA framework,” the commerce ministry said in a statement.