The Ministry of Agriculture, Food and Rural Affairs (MAFRA) announced on the 6th that it will open a Korea Pavilion featuring 14 domestic companies at an international agri-industry exposition held in Chiba, Japan, to help domestic agricultural machinery and supply companies pioneer export channels.

The expo, scheduled to run from the 7th to the 9th, is expected to host approximately 850 companies and attract 36,000 buyers and industry professionals.

MAFRA plans to explore export opportunities through consultations between participating companies and local buyers.

According to MAFRA, it has operated Korea Pavilions at agricultural expos in four countries this year—including China, Vietnam, Australia, and Japan—and hosted export consultation meetings between overseas buyers and domestic companies. These efforts have resulted in a total of 85 Memorandums of Understanding (MOUs) worth 15.13 million dollars (approx. 20.3 billion KRW) and 6 on-site contracts worth 320,000 dollars.

There have also been cases where participation in expos translated into actual exports. An eco-friendly agricultural supplies company signed an MOU with an Indian buyer discovered at last year's Shanghai Agrochemex in China, shipped its products this August, and is set to make an additional export worth 85,000 dollars this month.

MAFRA plans to continue supporting the overseas market expansion of agricultural machinery and supply companies by operating a Korea Pavilion at the Antalya Agriculture Exhibition in Turkey this November and holding export consultation sessions in the second half of the year.

An official from MAFRA stated, "We will strengthen follow-up support for participating companies and further expand assistance for pioneering overseas markets."

[Copyright (c) Global Economic Times. All Rights Reserved.]