South Korea, GCCI sign MoU to help Gujarat-based SMEs to explore opportunities

An official delegation from South Korea and the Gujarat Chamber of Commerce and Industry (GCCI) on Tuesday signed a memorandum of understanding (MoU) for cooperation between industries in Gujarat and the East Asian country, with a focus on automobile, defence and textiles sectors.
The South Korean delegation was led by the country’s Consul General in Mumbai, Kim Soungeun.
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, GCCI president Shailesh Patwari said.
“We import lubricants and auto parts for industry. Now that Gujarat is becoming an auto hub, JVs with Korean companies will help our SMEs. Our intention is also to support our SMEs in manufacture of defence equipment 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 Bangladesh and China and improve ready-made apparel trade, he added.