• KITA Held 3rd Meeting of ‘2019 Trade Industry Forum’
    2019-04-25 hit 175

    KITA Held 3rd Meeting of 2019 Trade Industry Forum


    -  Discussed the ways to expand the exports of cosmetics and medical devices to China Private and public sectors need to cooperate to solve trade difficulties -  


    The Korea International Trade Association (Chairman, Kim Young-joo) and the Ministry of Trade, Industry and Energy (MOTIE) held the third meeting of 2019 Trade Industry Forum at the Trade Tower in Samseong-dong on April 25th.


    16 heads and experts from cosmetics and medical device export companies, the Korea Cosmetics Association, the Korea Medical Devices Industrial Cooperative Association, and academia participated in the forum, which was co-hosted by the Vice Chairman Han Jin-hyun of KITA and Assistant Secretary Kim Yong-rae of MOTIE, and discussed current trade issues and countermeasures.


    Vice Chairman Han said, Recently, China has been expanding its overseas opening policies such as lowering the import tax rate, revising the foreign investment law, and promoting direct purchase of foreign goods and there are opportunities for Korean companies." He added, Exporting items should be diversified centering on major consumer goods such as cosmetics and medical devices." 


    According to the Korea International Trade Association, Korea's exports to China fell 17.3 percent from the same period last year, but exports of consumer goods rose 9.2 percent. With the Chinese governments plan to actively stimulate its economy, the Chinese market is anticipated to expand and China will become more important as a consumer goods export market.


    The participants of the forum expressed the trade difficulties that they are experiencing such as China's hygiene clearance, non-tariff barriers, and rapidly changing trade regulations on the Korea's major consumer goods exports, including cosmetics and medical devices, and requested the Korean government to closely cooperate and respond to those issues.  


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