Thaindian News

Gandhinagar, Auust 18, (IANS) The first international delegation to South Korea to promote the Vibrant Gujarat 2011 investment summit has received an overwhelming response, an official said here Wednesday.
About 80 Korean companies and trade associations participated in the roadshow that was organised Aug 16 at Seoul. Ravi Saxena, Gujarat’s Additional Chief Secretary for science and technology, led the delegation.

“Senior representatives from several companies like Samsung, Hanwha Group, Daewoo E & C and Korea Maritime Institute amongst others were present during the roadshow,” informed Ravi Saxena, while speaking from Seoul.

“The roadshow was followed by meetings with companies and associations like Honam Petrochemcial Corporation and Medium Business Corporation amongst others” he added.

Skand R. Tayal, Indian Ambassador to Korea, delivered the inaugural address and set the stage for discussions on developing a business relationship between Korea and Gujarat.

Saxena said there are several avenues of investments for Korean companies in Gujarat in the sectors of infrastructure development, IT devices, networks and applications, petrochemicals, renewable energy, shipbuilding and healthcare.

It is to be noted that Indian government has embarked on a ‘Look East’ policy and South Korea offers several business opportunities.

The South Korean President Lee Myung- Bak was the chief guest during the republic day celebrations of India this year. This is an evidence of strong growing relationship between the two countries and both countries are looking at strengthening the business relations after signing of the Comprehensive Economic Partnership Agreement last year.

A target of increasing the bilateral trade to $30 billion by 2014 has been set by both the countries.

“Eight other similar delegations will be visiting countries around the world during the months of August and September to promote Vibrant Gujarat 2011 event and inward investments to the state,” the spokesman said.