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(GWANGJU = Newsis) The City of Gwangju announced on 29th that it concluded export memorandum of understanding (MOU) worth USD 3 million by developing markets throughout the Asian region.
Business meetings for were held in the Asian countries including China, India and Sri Lanka between 21st and 29th, and six local small and medium enterprises (SMEs) participated in the event.
Gwangju conducted 122 export consultations worth of USD 17.77 million during the meeting and singed two export MOU worth of USD 3 million.
The trade mission comprised businesses which manufacture Gwangju’s main items such as machinery•mold, LED and medical machinery.
As a result, request for sample orders and technical tie-ups continued in Xi-an, a new emerging market in China with businesses such as Samsung Electronics are currently under operation. In India and Sri Lanka, the products of Gwangju are highly rated due to technological and cost competitiveness.
Meanwhile, the city dispatched five trade missions to Central and South America, Africa, the Middle East and Asia, and concluded 15 MOU worth USD 23.53 million.
Source Text
Source: Newsis (Nov. 29, 2013)
** This article was translated from the Korean.