Based on the annex signed today, the groups will expand cooperation to the supply of materials and components, production innovation, after-sales, logistics, quality assurance and distribution of appliances on selected markets.

Both Gorenje and Panasonic expect that the expanded cooperation will result in mutual benefits, improved international competitiveness and business efficiency and better services for consumers, Gorenje said in a press release.

Panasonic has owned a 9.5% in Gorenje since 2013 after signing the partnership deal with which included a capital hike by the Japanese group.