No.07/MRU/2015

June 30, 2015

All Members of the Council

Dear Members,

Sub: Buyer Seller Meet in Seoul, South Korea, September 14-15, 2015

Korea Rep is the 13th largest importer of leather & leather products in the world. Korea’s import of leather and leather products increased from US$ 1616.61 million in 2009 to US$ 3539.68 million in 2013, growing at a CAGR of 21.65%. India’s export to Korea has increased from US$ 31.31 mn in 2010 to US$ 68.47 mn in 2014-15, growing at a CAGR of 21.60%.

Korea Rep is a potential market for Import of Leather and Non-Leather Footwear, Leather Goods, Finished Leather, Saddlery & Harnes & Garments and has been consistently maintaining a positive trend in the import of leather and leather products in the recent years.

The normal MFN duty for Korea range from 8% to 13% for leather products and Footwear. However, Korea offers duty free access to India under Korea-India Comprehensive Economic Partnership Agreement (CEPA). Thus Korea offers immense scope for further enhancing India’s export of leather products.

In this background, with the objective to enhance India’s export of leather and leather products to Korea, the Council in association with the Embassy of India, Korea is organising a Two-Day Buyer-Seller Meet in Seoul, South Korea during September 14-15, 2015 with the nominal participation fee of Rs. 75,000/-

Considering the importance of the market, the Embassy of India has advised to open up retail outlets in Korea. Hence participating in the BSM also provides an opportunity to know more information about the Korea retail market and also to explore the opportunity to enter into Joint venture with the local retailers.

Members interested are requested to confirm their participation at the earliest along with application form and participation fee to enable the Council to make the preparatory arrangements for the BSM.

With Regards,

R Ramesh Kumar
Executive Director

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