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Subject MOU with Ministry of Industries and Productivity of Ecuador
Division International Cooperation Division Date 2018.08.10
Read 3081 Writer Deputy Director Young Soon Lee
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Headline MSS signed the MOU on SME cooperation with the Ministry of Industries and Productivity of Ecuador on Aug. 8th, 2018.
MSS and the Ministry of Industries and Productivity of Ecuador will actively push for SME cooperation to expand Korean SMEs' access to Central and South American markets. Vice Minister of MSS, Sugyu Choi and Minister of Industries and Productivity of Ecuador Eva Garcia established the MOU on SME cooperation in the embassy in Korea on Aug. 8th, 2018. Both sides agreed to push for a variety of specific cooperative programs related to trade and investment and exchanges of experiences and information on SME promotion.

Ecuador asked for the establishment of this MOU since it took note of Korea's experiences and knowhow on SME policies, and this MOU is expected to contribute to expanding economic cooperation between both countries. This MOU contains expanding trade and investment, exchanging experiences and information on SME policies, developing training and education programs and checking the progress by dispatching experts. MSS will actively identify and push for cooperative programs that can help Korean SMEs access Ecuadorian markets.

Vice Minister Sugyu Choi said that although Ecuador is an unfamiliar market for Korean SMEs, it can serve as a bridge to enter Central and South American markets. He added that MSS will help Korean SMEs overcome the difficulties caused by the access to the Ecuadorian market and actively support their growth. MSS has supported Korean SMEs' overseas market access through technology trade by opening Korea-Peru Technology Exchange Center in last February, and is endeavoring to expand Korean SMEs' markets to Central and South American markets.
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