The Union Minister of State for Urban Development, Ms. Deepa Dasmunshi has highlighted the importance of further stepping up India’s bilateral engagement with Korea which is amongst the most dynamic Asian economies. She was speaking after the signing of tripartite Memorandum of Understanding between EEPC India (formerly known as Engineering Export Promotion Council), CII (Confederation of India Industry) and Kotra (Korea Trade and Investment Promotion Agency) in New Delhi today. The signing of the MoU coincides with the visit of Korean President Park Geun-hye to India.

The Minister said that the visit of Korean President would also help further the engagement between the two countries. She added that the MoU provides a platform where the technical knowhow of both the countries in developing infrastructure can be shared. She added that it is very important to explore possibilities of cooperation in the Urban Transport Sector between the two countries.

With the signing of the MoU, the three top trade promotion organizations will improve the flow of information in India and South Korea which is key to the business communities of the two countries. The business to business contact will be improved through trade fairs, exhibitions, seminars and other promotional activities.

The MoU was signed by Mr. Anupam Shah, Chairman EEPC India, Mr. Young Ho Oh, Kotra President & CEO and Mr. Ajay Shriram CII President (designate).

Business-to-business cooperation strengthened by a tripartite MoU to boost information flow and urban transport collaboration. Tripartite Memorandum of Understanding between EEPC India, CII and Kotra creates a platform to improve business-to-business contact and the flow of market and technical information, institutionalising promotional activities such as trade fairs, exhibitions and seminars to enhance commercial linkages. The MoU highlights sharing technical knowhow in infrastructure development and identifies the Urban Transport sector for potential cooperation.