Guangxi and S. Korea seek business cooperation during Friendly Exchange Week

An economic cooperation forum got underway in Nanning on July 9, serving as an important part of the 2019 China (Guangxi)-South Korea Friendly Exchange Week. It attracted more than 100 political and business representatives from the two countries to discuss business opportunities, as well as promote the development of the automobile and health industry.

Liang Yiguang, deputy director of the Guangxi department of commerce, noted at the forum that trade volume between Guangxi and South Korea in the past 10 years has increased from $303 million to $730 million, with an average annual growth rate of 9.2 percent.

Zhang Xiacheng, ambassador of South Korea in China, said that South Korea and Guangxi have broad prospects for cooperation in the automobile and health industries. 

In addition, the China Council for the Promotion of International Trade Guangxi committee signed a memorandum of cooperation with the China Office of the Korea Trade-Investment Promotion Agency at the forum.

According to the memorandum, the two sides will promote exchanges and cooperation in various fields such as automobiles, electronic information, energy, and health. A platform for consultation and exchange between enterprises from both sides, as well as an information exchange and sharing mechanism will be established to regularly exchange economic and trade trends, industry trends, market analysis, product supply and demand, as well as investment projects.

In addition, entrepreneurs in the automotive, health, and business services industries from China and South Korea also shared cooperation and development opportunities in their respective fields at the forum.