The Hindu Business Line : Apitco's SME delegation to visit Korea

The Andhra Pradesh Industrial and Technical Consultancy Organisation (Apitco) is organising a delegation of small and medium enterprises (SME) to South Korea between March 22 and March 29.

The primary objective of the visit is to enable intending Indian SMEs to explore potential opportunities for business cooperation, identify suitable business partners, source requisite technologies, machinery and equipment and establish long-term channels for exports

The delegation will visit Seoul and Busan. The South Korean Federation of Small and Medium business (KFSB) is coordinating the visit and organising one-to-one interaction meetings between Indian SME delegates and intending South Korean partners.

KFSB is the biggest SME's federal organisation in Korea. Over 3 million SMEs are enrolled with it and it is considered to a reliable authority and influence over SME sector in South Korea. During the last five years, Apitco has sent eight delegations to Malaysia, Indonesia, Taiwan, Singapore, the UAE, China, South Africa and Botswana.

The Union Ministry of Small Scale Industry and Government of Andhra Pradesh supported majority of these delegations. Hundred and seventeen Indian SME delegates took part in these delegations. Apitco has also received delegations from Malaysia and South Africa, according to a press release.

Apitco has successfully facilitated technology transfers in bulk drugs, leather, IT, garments, industrial packaging, food processing and plastics.

South Korea has been identified as the destination for the proposed delegation considering the presence of a strong of SME base and their sustained contributed to the country's economy over the last 30 years. South Korean manufacturers are looking for alternative production bases in respect of automotive components, footwear, clothing and apparels, toys and assembling jobs.