Jeollanamdo Province of Korea, Dy CM of Lombardy sign 2 MoUs at BGBS

Kolkata: The Indian Chamber of Commerce and Jeollanamdo Province of the Republic of Korea on Thursday signed an MoU on the sidelines of Bengal Global Business Summit (BGBS) to promote economic exchanges in the areas of trade and investment.

The aim of the MoU is to work within the framework of existing International Agreements and Protocols between the two countries, to exchange economic data and information that would support enhancement of business and trade in the fields of chemicals, petro-chemicals, fertilisers, ports and shipbuilding, SMEs, start-ups, agricultural produce and fisheries along with their relevant sectors of interest that might arise from time to time.

It would also have exchange visits of delegations of business and industry and help in organising business meetings in each other's countries and develop and strengthen the mutual ties of friendship and goodwill between the people of the two countries.

Both sides have set a target of bilateral trade and investments amounting to USD 30 million in the next three years.

Meanwhile, in the opening plenary session of BGBS 2019, Fabrizio Sala, Deputy Chief Minister of Lombardy region government and also minister for research, innovation, university, export and internationalisation exchanged an MoU in mutual cooperation with state Finance minister Amit Mitra, in presence of Chief Minister Mamata Banerjee and other dignitaries from across India and overseas.

According to Sala, the areas of cooperation in the MoU are cooperation in manufacturing and industry, technical skill development, research & innovation, promotion of industrial growth, technology and manufacturing including investments and process standardisation, exchange of information on facilitations for trade exhibitions, trade fairs and business missions and business information systems.