A|D|S and KDIA Memorandum of Understanding signed to boost bilateral trade in defence, A|D|S
Release Date: 2010-06-14
A|D|S, the UK’s AeroSpace, Defence and Security trade organisation today (Monday) signed a cooperative Memorandum of Understanding (MoU) with the Korea Defense Industry Association (KDIA). The MoU was signed at the Eurosatory exhibition in Paris, France.With the developing globalisation of industry, the agreement will foster cooperation between the members of the two organisations as well as achieve economies of effort on joint initiatives for the two trade organisations. The MoU signed today seeks to achieve these goals on behalf of the industries of both nations to boost both trade in this strategic sector and the economies of both countries.
Following recent agreements with similar associations in the US, Canada and the Middle East this MoU further strengthens the international links of A|D|S and the potential trade parnters for A|D|S members, particularly small and medium sized enterprises who are at the heart of the UK defence industry. Further announcements are planned with other partner nations at the Farnborough International Airshow in July 2010.
Rees Ward, Chief Executive of A|D|S, said: “A|D|S is delighted to deepen our already excellent relationship with our counterparts in Korea. This agreement will deliver significant benefits for our respective members by opening doors to extended overseas trade in markets of crucial importance to both sides. We look forward to building on this relationship to deliver additional benefits to both the UK and Korean economies.”
The UK defence industry employs 300,000 people across the country, generates over £35 billion per year to the UK economy and delivers an average of £5 billion per year in export revenue. The UK has more SMEs in the defence sector than France, Germany, Italy, Spain and Norway combined. A|D|S directly represents approximately 850 Member companies, and it also has a large number of indirect Members, through its links to a number of regional trade bodies which operate around the UK. A|D|S operates to create the best possible climate in which its Members can do business, including lobbying and media relations work, alongside networking and business-to-business activities. It offers a wide range of products and services to help Member companies to grow their businesses and widen their contact networks both in the UK and overseas.
KDIA is recognised by the Government of the Republic of Korea as the primary Korean association concerned with Korean defence industrial preparedness. It is the only civil non-profit organisation founded upon Defense Acquisition Program Act in 1976 for the purpose of promoting the defence industry. KDIA represents 170 member companies: 89 regular members designated by the Ministry of National Defense (MND) and the Ministry of Commerce Industry and Energy (MOCIE) and 81 associate members in defence-related fields. The main role is to formulate policies to promote Korean defence industry, suggest them to governmental bodies such as Defence Acquisition Program Administration (DAPA) and MND, and execute defence policies established by the Government. In short, it acts as an intermediary between the Korean Government and Korean defence companies in all defence related affairs
| Type: | NORMAL |
| Company: | A|D|S |
| Country: | United Kingdom |