Chungcheongnam-do

▲ Export Consultation

Chungnam-do is starting to pioneer markets in Africa which are the new blue ocean.

They announced that they have sent the trade mission to Cairo, Egypt and Johannesburg, South Africa. To make an energetic exportation environment for small-and medium sized businesses in Chungnam-do, they chose members of the trade mission with Small and Medium Business Corporation of Daejeon. The trade mission includes 5 companies that have headquarters or factories in Chungnam-do. Chungnam-do chose the companies after they checked the companies’ marketability and will support 40% of the cost for agencies, rent for offices in a country they will stay, car rental fee, hiring translators and flight tickets.

The trade mission will have export counseling with buyers in Cairo, Egypt, and will have visited consultation in Johannesburg, South Africa to sound out those two countries intention to invest. Also, the trade mission will do market research to both countries.

Authorities of Chungnam-do said, “Because of a global business slump, many countries have interests to markets in Africa instead of exporting to developed countries. African markets are Blue Ocean now, so we sent the trade mission there.” and “by sending the trade mission to Africa, many business groups in chungnam-do might develop new global markets to export.”

Meanwhile, economy of African countries has increased 5-6% every year since 2011, population has increased as 3.4% and this increasing is double from global average, so it will be expecting to be more than 2 billion in year of 2050.