Tinaye Agere
Hebert Zharare in SEOUL, South Korea
LOCAL business lobby group Zimbabwe National Chamber of Commerce (ZNCC) and the Korea Chamber of Commerce and Industry (KCCI) on Tuesday signed a memorandum of understanding (MoU) that seeks to promote trade and economic relations among businesses from the two countries.
ZNCC president Mr Mike Kamungeremu and KCCI vice president Mr Lee Seong Woo signed on behalf of their organisations in a ceremony held in Seoul.
The parties agreed to develop a strong institutional, trade and business relationship in order to establish a sustainable mechanism for dialogue in accordance with business laws in the two countries and in compliance with the existing agreements between Harare and Seoul.
In an interview after the signing ceremony, Mr Kamungeremu said the agreement presented huge opportunities for local businesses.
Some of the opportunities, he said, include increased trade and investment, as well as creation of new markets for local products and Korean investments in Zimbabwe.
“There will be technology and skills transfer, which could increase efficiency, productivity and competitiveness. There will also be business networking opportunities and collaboration as we get potential business partners,” he said.
“We are also looking at capacity building through training sessions and workshops for our members to enhance their business skills.”
Online Reporter