Gyeonggi Province and the Gyeonggi Regional FTA Trade Promotion Center held local export consultation meetings in Melbourne, Australia on the 8th and Kuala Lumpur, Malaysia on the 10th, conducting a total of 105 business consultations.
This export consultation meeting was planned to support the global market diversification of small and medium-sized enterprises (SMEs) in the K-beauty and daily consumer goods sectors in the province amid increasing external uncertainties such as the intensifying US-China trade conflict and the strengthening of non-tariff barrier regulations worldwide.
In Gyeonggi Province, 10 companies in the beauty, cosmetics, and daily consumer goods sectors participated in Melbourne, Australia, where 49 consultations resulted in export consultation achievements worth $1.06 million and contract promotion results worth $510,000.
Australia is a premium market based on high purchasing power and trust, with particularly increasing demand for eco-friendly and health foods.
A view of the consultation meeting held by Gyeonggi-do on the 10th in Kuala Lumpur, Malaysia. Provided by Gyeonggi-do
In Kuala Lumpur, Malaysia, Gyeonggi Province achieved export consultation results worth $2.11 million and contract promotion results worth $750,000 through 56 consultations. Malaysia is recognized as a key hub for entering the ASEAN market and a strategic country for entering the Islamic halal market.
Gyeonggi Province expects this consultation meeting to serve as an important stepping stone for local SMEs to break away from the export structure centered on the US and China and pioneer new markets.
Gyeonggi Province and the Gyeonggi FTA Center plan to continuously operate local consultation meetings, overseas certification support, customized education, and briefing sessions to help local companies overcome non-tariff barriers in various global markets including Australia and Malaysia.
Park Kyung-seo, Director of the International Trade Division of Gyeonggi Province, said, "We will actively support companies to recognize the importance of overseas standard certifications necessary for export and prepare proactively so that they can effectively respond to the changing global market."
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