KOTRA Hosts 'Korea-South Asia Economic Cooperation Expo' with 210 Domestic Companies Participating

Expansion of Collaboration Areas Beyond Consumer Goods to Solar Power, Medical Devices, and Infrastructure

KOTRA has been conducting the "2nd Korea-South Asia Economic Cooperation Expo" locally from the 13th of last month until the end of this month. The photo shows the "Infrastructure Roadshow" held in Dhaka, Bangladesh on the 15th. (Photo by KOTRA)

[Asia Economy Reporter Kim Ji-hee] KOTRA has been conducting the "2nd Korea-South Asia Economic Cooperation Expo" from the 13th of this month until the end of the month. The event features 210 Korean companies and 300 buyers invited from trade offices in India, Bangladesh, Pakistan, and other countries, holding 650 consultation sessions.

Especially this year, following changes in South Asian governments' policies after the COVID-19 pandemic, cooperation has expanded beyond consumer goods to sectors such as solar power, medical devices, and infrastructure.

First, in India, KOTRA's New Delhi Trade Office is hosting an online consumer goods expo until the 23rd of this month. Ahead of Diwali (November 14), the largest local festival, local consumer goods distribution networks are competitively launching promotions, and the Indian government is also promoting consumption by providing salary advances to public officials. KOTRA is leading the promotion of Korean products by delivering products from 50 domestic companies to Indian consumers and pre-producing video reviews of product experiences.

Prior to this, a Korea-India solar power cooperation project was held. From the 13th to the 15th, the "Korea-India Solar Power Cooperation Project" took place, with 14 Indian solar power companies such as Tata Power and Adani Green participating and expressing strong willingness to cooperate with Korean companies. India has set a goal to secure 500GW of power from renewable energy by 2030 and is working at the government level to diversify local production and import sources. KOTRA is joining forces with related organizations by signing agreements with the National Solar Energy Federation of India (NSEFI) and the Korea Photovoltaic Industry Association (KOPIA).

In Bangladesh, the infrastructure roadshow, now in its third year, was held. Despite the COVID-19 crisis, Bangladesh is the only South Asian major country expected to achieve positive growth this year, and loan projects from international financial institutions such as the World Bank and the Asian Development Bank are steadily progressing. KOTRA organized a consultation meeting by gathering eight government contracting agencies, including the local railway authority, to provide bidding opportunities for projects with easy payment collection and transparent bidding procedures.

KOTRA is also taking the lead in industrial cooperation with Pakistan. Pakistan is strengthening its industrial capabilities through the "Made in Pakistan" policy to improve manufacturing productivity. Since 2018, KOTRA has supported Korean companies' entry into Pakistan, focusing on auto parts. This year, the scope and fields have expanded to open opportunities for technological and industrial cooperation in various sectors such as chemicals, construction materials, industrial machinery, pharmaceuticals, medical devices, and renewable energy.

Kim Moon-young, head of KOTRA's South Asia Regional Headquarters, said, "The preference for Korean products has increased locally due to K-quarantine," adding, "We will actively support the entry of our small and medium-sized enterprises and mid-sized companies by leveraging this opportunity."

This content was produced with the assistance of AI translation services.