New Delhi, Nov 10 (KNN) Federation of Indian Micro, Small and Medium Enterprises (FISME) on Wednesday signed a MoU with Yangsan Chamber of Commerce and Industries (YCCI) in the presence of Mayor of Yangsan city, Na Dong-Yeon.

Under this pact, the former will support entrepreneurs from the Yangsan city of South Korea in creating business ties with the Indian SMEs.

The MoU was signed by S.K. Jain, Vice President of FISME, YCCI Chairman Park Byung-Dae and Mayor who is leading a 41 member trade delegation to India from November 7 to 11, 2022.

Addressing the South Korean delegation, Jain said, “Large companies can create their presence in India on their own. However small companies will need support through industry associations. This is where FISME will play its role through this partnership formalised today.”

Speaking exclusively with KNN, the Mayor of Yangsan city said that the agreement signed with FISME will lead to a greater path of opportunities. 

“I am certain that we will have better economic performance and I see Indian SMEs and South Korea to collaborate in the near future with our efforts.”

He pressed on greater economic cooperation and collaborations to open more opportunities for companies in both the countries. 

The Mayor expects to have more detailed discussion on the business environment and new opportunities in depth. 

YCCI told KNN that high level of technology especially in hardware and India’s large consumer market will create lots of opportunities for both the countries. 

“The partnership with FISME will give us a lot of help to collaborate and cooperate for the longer term,” he added. 

The South Korean delegation also had B2B meeting with members of FISME on sectors such textiles, clothing, towels, umbrellas, bath products, leather etc.   (KNN/KT)