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MOTIE Signs MOU with Italy to Cooperate on Energy and Trades

According to Yonhap News,

(SEOUL=Yonhap News) The Ministry of Trade, Industry and Energy (MOTIE) announced on October 18 that the Minister signed an MOU with the Italian Ministry of Economic Development on holding a strategic meeting to discuss ways to cooperate in industry and energy field in Rome in line with the state visit of President Moon.

Both parties agreed to cooperate in three areas of industrial technology, energy and trade enhancement mainly with the purpose of contributing to the mutual economic development.

MOTIE explained that by taking this opportunity, bilateral cooperation will be expanded throughout the economy by establishing a cooperation channel that includes energy, trade and commerce, besides the existing industrial technology cooperation.

Both countries agreed to hold biennial meetings led by Vice Ministers of both parties in order to implement substantial and systematic cooperation projects.

Sung Yun-mo, the Minister also attended the business networking seminar to encourage Korean and Italian artisan companies.

"Italy possesses excellent artisan spirit and accumulated technique, while Korea has competitive IT infrastructure and strong commercialization technique," said the Minister noting that when the strengths of the two countries are gathered, new business opportunities will be created.

During the event, the Korea Trade-Investment Promotion Agency (KOTRA) signed MOUs with Italian Trade & Investment Agency and Instituto Marangoni on investment promotion and cooperation on design schools.

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Source Text

** This article was translated from Korean.

Source: Yonhap News (October 15, 2018)

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