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South Korea, GCCI sign MoU for business cooperation

Press Trust of India  |  Ahmedabad 

An official delegation from and the Chamber of Commerce and Industry (GCCI) today signed a memorandum of understanding for co-operation between industries in and the East Asian country, with a focus on automobile, defence and textiles sectors.

The South Korean delegation was led by the country's in Mumbai,

The main objective of the MoU is to help Gujarat-based small and medium enterprises (SMEs) to explore opportunities through joint ventures with South Korean firms, especially in areas of automobile, defence and textiles, said

"We import lubricants and auto parts for industry. Now that is becoming an auto hub, JVs with Korean companies will help our SMEs. Our intention is also to support our SMEs in manufacture of with the help of Korean companies," Patwari said.

Korean companies can offer technological help to the textile industry in Gujarat to reduce costs and compete with and and improve ready-made apparel trade, he said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 09 2018. 17:30 IST