IIC And The Korea International Trade Association Sign A Regional Memorandum Of Understanding

05/23/2006

Washington, D.C. - On May 23, 2006, the Inter-American Investment Corporation (IIC) and the Korea International Trade Association (KITA) signed a Memorandum of Understanding (MOU) which establishes a general framework where both institutions will promote economic cooperation by providing support to SMEs in Korea and Latin American and the Caribbean and institutional networking and capacity building in the international trade area.

The areas of cooperation will include joint promotion of the partnership, networking activities and sharing of international experience to strengthen institutional knowledge; exchange of data, studies and reports on subjects of common interest and organization of seminars and meetings in support of marketing activities.

KITA is a Korean private trade promotion agency aimed at supporting its members with a focus on import, export and investment activities. The areas of cooperation will be determined between KITA and IIC through consultation on joint work programs.

The MOU was signed at the IIC headquarters in Washington, D.C. For KITA signed Mr. Hee-Beom Lee, chairman and CEO and for the IIC signed Mr. Jacques Rogozinski, General Manager.

The Inter-American Investment Corporationis a multilateral financial institution that is part of the Inter-American Development Bank Group. It provides financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. The IIC's mission is to promote the economic development of its regional member countries by stimulating the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. For more information on the IIC's activities, visit its Web site at www.iic.int.

Contact: Jacques Rogozinski

Telephone: (202) 623-3901

Email: sylviasz@iadb.org