Gyeonggi Province Makes its Mark in Russia!
(Published October 22, 2012)

Economic Cooperation Delegation led by Governor Kim visits Russia and Qatar from October 23 to 29
 

◇ With Gyeonggi Province Governor Kim Moon-soo as the leader, the Gyeonggi Emerging Nation Economic Cooperation Delegation will be visiting Moscow and Yekaterinburg in Russia and Doha, Qatar. ⓒ G-News Plus

Gyeonggi Province will dispatch an economic cooperation delegation to the nations of Russia and Qatar to seek new ways of stimulating the exports of small and medium-sized businesses based in the province.
 
The delegation, with Governor Kim at its head, will travel across the northern hemisphere to Moscow and Yekaterinburg in Russia before flying south to Doha, Qatar, over a period of seven days from October 23-29.
 
The delegation consists of personnel representing nine small and medium businesses including the Korea Energy Management Corporation, Korea Polytechnic University, and Woori Bank. Their goal is to attract investment and to interact with foreign companies.

The trip was scheduled to explore new possibilities in these markets for small and medium businesses in the province that have been suffering since the traditional markets in the U.S. and Europe were hit by the economic crisis. The delegation’s destination was Russia, rich in resources and capital, and Qatar, the economic heart of the Middle East.
 
The delegation will finalize one investment, two technical collaboration deals, one economic collaboration agreement, and one economic amity and cooperation deal. The delegation will also organize two presentations on the province’s investment environment.

The delegation’s first destinations will be Russia’s prestigious Bauman Moscow State Technical University and the Urals Federal University in Yekaterinburg, where an investment agreement will be signed. Becoming close collaborators with Russia’s leading think tanks is expected to stimulate transfer between small and medium businesses based in Gyeonggi Province that are willing to commercialize their technologies.
 
The provincial government will sign an MOU for economic cooperation with UEMP, Russia’s department of procurement, which has recorded the highest volume among five electronic cyber tender institutes, in a move that should pave the way for the entry of Gyeonggi Province-based businesses into the Russian market.
 
The delegation will move on to sign an MOU for economic amity and cooperation with the government of Sverdlovsk Oblast for industry-university technology exchange. Sverdlovsky Oblast, one of four federal states in Russia, dominates Russia’s metal industry, accounting for 42% of national production.
 
What is notable about this trip is that YULCHON, a metal pipe manufacturer based in Siheung City, and the Russian company AVISMA, the holder of an original titanium pipe production technology, will be signing a USD 10 million technical cooperation investment MOU. This will be Gyeonggi Province’s first investment by a government-owned company in Russia.
 
AVISMA produces 42% of all titanium distributed around the world. The metal is used in making aircraft, engines, and nuclear power plants.
 
According to the MOU, AVISMA will provide raw materials manufactured with the company’s titanium manufacturing technology to YULCHON, which will in turn distribute the final product in the domestic and international markets. The manufacturing plant will be built in the foreign-exclusive industrial complex in Poseung of Pyeongtaek City, and Gyeonggi Province will provide a range of administrative, financial, and facility incentives.
 
The delegation will move on to Doha, Qatar, where they will give a collaborative research presentation on the subject of “Entering the Food Security Industry.” Qatar’s National Food Security Program has shown interest in the provincial government’s vertical farm project, led by the Agricultural Research and Extension Service sector, and has invited the delegation to their capital. The QNFSP, a government body under the direct mandate of the Crown Prince of Qatar, was established with the aim of developing policies for Qatari food self-sufficiency and integrating new and renewable energy into the agricultural sector.
 
To meet Qatar’s request, the Agricultural Research and Extension Service will discuss ways of collaborating on research regarding a 24-hour cultivation system by integrating new and renewable energy and IT technologies.

Governor Kim said, “We have been disposed to economic cooperation with developed economies, but after the world financial crisis we must target new economies in the Middle East and Russia, among others. This tour will set the direction for future economic cooperation with these economies.”
 
ⓒ G-News Plus News / Nam Gyeong-u / echo2008f@gg.go.kr

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