Vigorous drive for FTA markets
(Published June 12, 2012)

Gyeonggi Province hosted the G-Trade FTA Export Consulting Conference with estimated mid-point sale consultations of USD 54 million

◇ Gyeonggi Province held the 2012 G-Trade FTA Export Consulting Conference on June 12^th. ⓒ G-News Plus

The challenges faced by small and medium-sized enterprises in Gyeonggi Province seeking to advance into FTA markets are being actively addressed.

Gyeonggi Province and the Gyeonggi Small & Medium Business Center (GSBC) announced that USD 54 million worth of sale consultations were expected from the 2012 G-Trade FTA Export Consulting Conference held on June 12^th at KINTEX Exhibition Center II in Goyang City.

On the day of the conference, buyers from 50 companies from economically developed regions (the US, EU, etc.) and developing economic powers (ASEAM, India, etc.) participated in one-to-one consultations with 230 small and medium-sized exporting companies based in the province.

Consultations on the major industries of Gyeonggi Province—including IT, electronics, automobiles, and machinery—were provided; in return, Gyeonggi businesses were able to promote their products such as household items, fabrics, food and clothing.

Major buyers including world-leading GM Motors, Ford and India’s representative motor company Mahindra attended the conference, and the substantial orders they placed will greatly assist the province’s exporters.

For long-distance buyers from the US and EU, other business activities were also organized, linking to the Global Transport-Tech (GTT) and Global Bio-medical Forum (GBF) events beginning on June 13^th.

In addition, the Gyeonggi Provincial Traditional Music Orchestra performed fusion-style Korean traditional music, helping to promote the province’s traditional culture while enhancing the image of its products.

A major buyer attending the consulting conference said, “In comparison to Chinese products, the prices here are reasonably priced and the quality is much more satisfactory.” He added, “Since the free trade agreement between Korea and the US came into effect, Korean motors have attracted more and more interest in the US market due to tax reductions.”

A representative from company ‘Y’ at the conference said, “We have experienced more than a 30% increase in export sales orders since the FTA took effect. Mobile equipment supply companies are also enjoying greater business opportunities with the current FTA agreements.” He continued, “Since Korea engineered an FTA agreement with the EU, orders from European companies have been increasing. As our company could meet buyers from different FTA countries at this conference, we have saved both time and money.”

Song Yu-myeon, Director of the Gyeonggi Province International Affairs & Trade Division, said, “We plan to strengthen overseas sales routes to FTA countries by using tax benefit items, and to focus on expanding our exports by implementing vigorous FTA marketing strategies.”

In order to obtain successful results in the early stages of the FTA agreements with the US, the EU and other countries, Gyeonggi Province plans to advance its overseas marketing support initiatives such as attending international specialized exhibitions and helping businesses acquire ISO certification.

◇ One-to-one consultation between overseas buyers and local businesses at the Export Consulting Conference ⓒ G-News Plus

ⓒ G-News Plus News / Chun Gyeong-nam / chun0403@kg21.net

http://gnews.gg.go.kr/news/news_detail.asp?number=201206121636027055C052&s_code=C052