Madras, Busan commerce chambers ink pact to promote trade

CHENNAI: The Madras Chamber of Commerce and Industry (MCCI) has signed an agreement with South Korea's Busan Chamber of Commerce and Industry to foster economic development between the two regions.

The agreement between the two chambers aim to strengthen the cooperation in promoting trade and investment between Tamil Nadu and Republic of Korea through holding joint trade and investment promotion events, developing business relations, seeking potential investors and business partners, a statement issued here said.

MCCI President S G Prabhakaran exchanged documents with Busan Chamber of Commerce and Industry President Cho Sung Je during the visit of a 22-member delegation from the South Korean chamber here recently, the statement said.

Busan is the second largest city in South Korea and home to several multi-national companies.

According to Prabhakaran, the Chamber has proposed to take a 15-member delegation from the manufacturing and logistics sector to Busan and Seoul to explore business opportunities later this year