S Korea, Gujarat eye partnership in textile, chemicals, tourism

Businessmen from Gujarat and the South Korean government on Tuesday agreed to promote trade and investment in textiles, chemicals, automobiles, defence and skill development among others. A top Korean official said that the East Asian country is now more open to India and ASEAN to diversify its trade and investment relations. On the other hand, businessmen from Gujarat are looking at trading partners to reduce dependence on China.

“We saw lots of cotton fields here. We can cooperate in textiles. It would be better for Korean companies to invest here and form joint ventures with Indian companies,” Soungeun Kim, Consul General of South Korea (Republic of Korea, ROK) told media persons in the city after signing a Memorandum of Understanding (MoU) with the Gujarat Chamber of Commerce and Industry (GCCI) on Tuesday. He sees the MoU as the first step in strengthening ties with businessmen in Gujarat.

Local businessmen see potential such as South Korea has developed capacities in manufacturing as well as technology sectors. “Gujarat is emerging as a hub for automobiles. Korean companies can invest in Gujarat. They can also bring their expertise, which would help us train our workforce. Korea is also well developed in the defence sector. Government of India is focusing on developing technologies within India. There is an opportunity for partnership here is as well,” said Shailesh Patwari, president of GCCI.

IN SYNC

• Local businessmen see potential such as South Korea has developed capacities in manufacturing as well as technology sectors.
   
• A top Korean official said the East Asian country is now open to India and ASEAN to diversify its trade.