The discussions would touch on both the recent attacks against oil tankers in the Gulf and the Iranian downing of a US spy drone, a diplomat said on condition of anonymity.
The United States and 25 other countries had accused North Korea of violating UN sanctions by importing far more than the annual limit of 500,000 barrels of refined petroleum products.
India's Permanent Representative Syed Akbaruddin cited adoption of "opaque" methodologies and non-attribution of assertions is blocking early reforms.
The 1267 Al Qaeda Sanctions Committee of theSecurity Council blacklisted Azhar on May 1 after veto-wielding permanent member China lifted its technical hold on the proposal by the other members.
US, UK and France have moved a proposal under the 1267 Al Qaeda Sanctions Committee of the UN Security Council (UNSC) to designate Azhar as a 'global terrorist'.
Pakistan had launched guidelines for implementing the UN Security Council sanctions targeting UN-proscribed individuals and entities in the country.
The two sides stressed that terrorism in all its forms and manifestations constitutes one of the most serious threats to international peace and security.
Kovind is on a three-day visit to Bolivia, the first high-level visit from India to the Latin American country since the establishment of diplomatic ties.
The US, supported by France and the UK, has moved a draft resolution in the UN Security Council to blacklist the Pakistan-based terror group's chief.
Pakistan and China shouldn't create hurdles in designating Azhar as global terrorist: Dawn newspaper
Pakistan's daily newspaper said that a hard crackdown on terror groups in the country is needed as it will help Islamabad regain the respect of the international community.
On Wednesday, China blocked for the fourth consecutive time a resolution at the UN Security Council Committee on designating Azhar, head of the JeM terror group, as a global terrorist.
UNSC members may be forced to pursue other actions on Masood Azhar: US after China blocks ban on Jaish chief
A US diplomat spoke on condition of anonymity to give a sense of the feeling of other members of the Security Council after China blocked the move to designate Azhar a global terrorist.
A resolution to declare JeM chief Masood Azhar as a global terrorist would come up in the UN Security Council on March 13.
UN General Assembly President Maria Fernanda Espinosa said that it is her duty to make sure that the process continues in an inclusive and transparent way.
China on Wednesday despatched its Vice Foreign Minister Kong Xuanyou to Islamabad to defuse the Indo-Pak tensions.