Maharashtra, South Korean province sign MoU
Maharashtra on Thursday signed a pact with South Korea's GyeongGi province for mutual cooperation in industries, trade, cultural activities and tourism.
By PTI |
MUMBAI: Maharashtra on Thursday signed a pact with South Korea's GyeongGi province for mutual cooperation in industries, trade, cultural activities and tourism.
The MoU to "promote and expand mutually beneficial cooperation between the two regions in accordance with the rule of the law" was signed by Maharashtra Chief Minister Vilasrao Deshmukh and GyeongGi Governor Kim Moon Soo at a ceremony here this evening.
Explaining the MoU, a senior industries department official said the objective was to collaborate on projects in the thrust areas of nanotechnology, biotechnology, information technology and manufacturing, especially automobiles.
"Maharashtra and GyeonGi have lots in common and are the power houses of their respective economies. Both the states have interests in the identified thrust areas and it is not surprising for them to forge an alliance," Deshmukh said.
Noting that many companies like LG and Daewoo have a presence in Maharashtra, Deshmukh invited Korean companies like Samsung and Kia motors to have a presence in the state.
"We are developing the Chakan-Talegaon belt near Pune as India's Detroit and already a majority of auto majors are located there. I invite Kia motors in the belt as well," he said.
Apart from the mega corporations, the small and medium enterprises have also been given equal prominence in the MoU, which will make it simple for an Indian SME to establish itself in Korea and vice versa, said the official.
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