A memorandum of understanding to this effect was signed today in London by the EBRD President Thomas Mirow and the President and CEO of KOTRA, Dr. Hwan-Eik Cho.

Under the memorandum, KOTRA and the EBRD will aim to increase the awareness of the Korean business community about existing opportunities to participate in the implementation of the EBRD-financed projects.

The EBRD and KOTRA will organize working conferences and visits to the region, and will support relevant programs, which will serve as a platform for exchanging information and views on how to enhance the cooperation between the EBRD and the Korean companies.

In addition, through their regional offices, the two institutions will seek to identify potential investment projects. KOTRA will also assist the EBRD in identifying qualified consultants and companies from Korea to support implementation of the Bank’s projects, particularly in the areas of consulting, engineering, energy, renewable energy, construction and transport.

“We hope that this memorandum of understanding will facilitate the transfer of Korean know-how in various sectors to the economies in the EBRD region, thus contributing to a more dynamic development of countries from central Europe to central Asia”, said EBRD President, Thomas Mirow.

Dr Hwan-Eik Cho, President of KOTRA stated “This is just the beginning of our efforts to collaborate with the EBRD and bring greater opportunities for Korean firms in the CIS and eastern European countries where most of the EBRD financed projects are being implemented”