TAIT concludes MoU with KIBWA and MTCC

In a recent move to solidify trade relations and exchange information and support SMR experience and policies between India, South Korea and Vietnam, Trade Association of Information Technology (TAIT) has signed a memorandum of understanding (MoU) with Mobile Technology Convergence Center (MTCC) and Korea IT Business Women's Association (KIBWA) on July 25 in Mumbai.

TAIT, MTCC and KIBWA have expressed keenness to cooperate for the purpose of facilitating business cooperation between the Socialist Republic of Vietnam and Republic of Korea. In order to accomplish this objective, TAIT and MTCC have mutually agreed upon exchanging and disseminating available information relevant to the enhancement of business cooperation between the SME industries of both countries such as investment, technology transfer, trade and strategic alliances besides providing services of identifying suitable business partners and cooperate in carrying out promotional events, investment seminars as well as assistance industrial delegations within the capacity of two organizations.

According to the MoU, each of the 3 concerned parties will be appointing an officer within their respective organization who will have the responsibility to follow up and coordinate the matters related to the agreement. Also, an industrial coordinator will be dispatched for identifying and matchmaking sectors and companies for industrial and technology cooperation

Valid for a period of 3 years, the MoU will be automatically renewed thereafter for successive 3 year period, unless any of the party informs the other party(ies) in writing of its desire to terminate the MOU at anytime provided 3 months in advance.