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Signing of the MoU

 

China E Co-op, a wholly-owned subsidiary of ACFSMC operating China’s leading agribusiness online platform (www.gxyj.com) and the Korean Nonghyup Hanaro Mart signed a Memorandum of Understanding (MoU) to enhance cooperation on cross-border trade and services. Sinotrans Tianjin, a subsidiary of Sinotrans Limited, joined the partnership as the sole logistics service provider.

 

The MoU was signed by high-level executives of Beijing Agriculture-centered Network Technology Co., Ltd., Nonghyup Hanaro Mart and Sinotrans Tianjin in Beijing on March 15. With the signing of the document, ACFSMC and Nonghyup cooperation on cross-border trade and services has entered a new stage, an ACFSMC senior representative said in the opening.

 

Under the MOU, Beijing Agriculture-centered Network Technology Co., Ltd. was appointed as the sole (all-channel) selling agent of Hanaro’s own brand within China. Hanaro Mart will also support the establishment of “South Korea Pavilion” at the online platform for product promotion and transactions. In December 2017, ACFSMC signed an MoU with National Agricultural Cooperative Federation (NACF, known as Nonghyup) on extensive cooperation in the areas of finance, trade, investment, training, e-commerce etc.

 

The MoU between China E Co-op and Nonghyup Hanaro Mart will help consolidate bilateral exchanges, cooperation and coordination, promote agricultural and rural development and enhance the farmers’ wellbeing in the two countries, an Hanaro executive stated.

 

Senior representatives of ACFSMC and NACF attended the signing ceremony