South Korea, GCCI sign MoU for business cooperation

Ahmedabad, Jan 9 (PTI) An official delegation fromSouth Korea and the Gujarat Chamber of Commerce and Industry(GCCI) today signed a memorandum of understanding forco-operation between industries in Gujarat and the East Asiancountry, with a focus on automobile, defence and textilessectors.The South Korean delegation was led by the country'sConsul General in Mumbai, Kim Soungeun.The main objective of the MoU is to help Gujarat-basedsmall and medium enterprises (SMEs) to exploreopportunities through joint ventures with South Korean firms,especially in areas of automobile, defence and textiles, saidGCCI president Shailesh Patwari."We import lubricants and auto parts for industry. Nowthat Gujarat is becoming an auto hub, JVs with Koreancompanies will help our SMEs. Our intention is also to supportour SMEs in manufacture of defence equipment with the help ofKorean companies," Patwari said.Korean companies can offer technological help to the textile industry in Gujarat to reduce costs and compete with Bangladesh and China and improve ready-made apparel trade, he said.

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