As a part of 2010 KOAFEC (Korea-Africa Economic Cooperation) Conference, Korea-Africa Small & Medium Enterprise Cooperation Forum took place on Sept. 16 at Hotel Shilla with the participation top government officials and business leaders from the two sides.
The SME forum, the first of its kinds, is the outgrowth of Korea-African endeavors to open new horizons and maximize win-win cooperation, SMBA officials explained.
"As the conference theme, "Rising Africa, Together with Korea," indicates, the Korea-Africa cooperation agenda in the SME sector is very well suited to the ultimate goal of this conference, that is, sharing Korea's experience of advancing from one of the world’s poorest countries to the 15th largest economy in just five decades."
On this context, topics of the forum feature Korean SME development and implications, Korean SME policy initiative and free-on-the-wheel discussion by relevant professionals from the two side.
Thus far, Korea's economic cooperation activities with Africa, unlike those of the EU, U.S., Japan and some others, have not been extensive due to various limitations including the great geographical distance. However, the winds of change are picking up. Since the turn of the century, Africa, like a sleeping lion, has been awakening and drawing global attention as a new center for economic development.
To facilitate Korea-Africa SME cooperation, SMBA will despatch Korean specialists to provide advice and consultation to African countries. Moreover, African officials and business executives will be invited to Korea to have opportunities of learning Korean lesson. Also, a Korea-Africa SME Cooperation Center will be established up to identify viable joint cooperation projects among Korean and African SMEs, facilitate cooperation, invigorate information exchanges, share experience and technologies, and launch other value-added activities.