Memorandum of Understanding on Cooperation between China Machinery Industry Federation and Korea Association of Machinery Industry
On May 31, 2012, Xue Yiping, executive vice president of China Machinery Industry Federation, and Piao Yongzhuo, executive vice president of Korea Association of Machinery Industry, signed a memorandum of understanding on cooperation between the two sides with the witness of the minister of Korean Ministry of Knowledge Economy. The newly signed memorandum is for further confirmation and appropriate supplement of the contents in the memorandum of cooperation signed by two the two organizations in 2002.
This year is the 20th anniversary of the establishment of diplomatic relations between China and Korea, and China-Korea FTA talk has been officially launched, so it is believed that the exchange and cooperation in the field of machinery industry between the two countries will be further expanded. The signing of the memorandum of understanding sets a vision and clear direction of cooperation between the two major industry organizations in the machinery industrial sector both in China and Korea, which will greatly promote information exchange and economic cooperation in the field of machinery industry. The two sides have decided to conduct pragmatic cooperation on the aspects of the investment attraction of international exhibitions, industry standards and product quality certification system, etc. Both sides express the willingness to play their due role for the healthy development of the machinery industry in the two countries and the pragmatic cooperation between two organizations.
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