KITA News and Reports
  • KITA Signed MOU with Korea-Africa Center
    2017-09-13

    KITA Signed MOU with Korea-Africa Center  

    -   Following signing MOU, two organizations jointly held ‘Seminar on Entry Strategies to Africa’ -

     

    The Korea International Trade Association (Chairman, Kim In-ho) signed a memorandum of understanding with the Korea-Africa Center (Executive Director, Kim Il-soo) at the Trade Center, in Samseong-dong, Seoul on September 12 to effectively support researches on African region as well as Korean companies’ entry into Africa. 

     

    Under the agreement, the two organizations will cooperate in co-hosting Africa-related conferences and economic seminars, exchanges of materials and information such as reports and publications, and research projects on Africa. Kim Jung-kwan, vice president of the Korea International Trade Association, said Africa has an infinite potential in territory, population, and resources, especially in the consumer goods market in Africa, growing at an average annual rate of over 10 percent. He also added We hope that the core competencies of the two institutions will create synergies and provide substantial opportunities for Korean small and medium-sized trading companies who hesitate to enter into Africa.

     

    Following the signing of the memorandum of understanding, the Korea International Trade Association and the Korea-Africa Center hosted a ‘Seminar on Entry Strategies to Africa with Specialists of Africa.’  Ambassador Mohamed Gello of Kenya Embassy in Seoul and more than 130 representatives of Korean companies participated in this seminar. The seminar covered economic and political trends of major African countries from 2017 to 2018 and also introduced promising items and success stories in Africa and key regulations that the Korean companies should be aware of when entering into Africa.

     

    In particular, the organizations invited business professionals who are working in the local distribution market in Africa to Korea and introduced effective African market entry strategies to the Korean companies, along with a realistic explanation of the rapidly growing African on-and-off-line distribution market. In addition, after the seminar, there were export consultation meetings and provided an opportunity for Korean companies to have one on one consultation with the specialists of Africa.

     

     

    Meanwhile, the Korea International Trade Association and the Korea-Africa Center will jointly hold a "Morocco Investment Seminar" in the same place in cooperation with the Embassy of Morocco in Korea on in the afternoon on September 13. This seminar, in which Morocco's Ministry of Industry and Trade and government officials from the Investment Office will participate, will introduce the concept of "Korea-Morocco-Africa Triangular Cooperation" with which Korean companies seek to ways to advance into Africa by using Morocco as a base.

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