Korean firms eye UAE opportunities
Trade mission organised to expand trade links between the two countries
The UAE has proved to be a very friendly and lucrative market for Korean companies. In 2016 Korea exported Dh25 billion worth of goods and services to the UAE, placing 8th.
In order to continue this trend, the Korea Trade-Investment Promotion Agency (KOTRA) and Korea Testing Laboratory (KTL) teamed up to organise a trade mission of 25 companies held on July 26 at the Intercontinental Hotel, Dubai Festival City (Al Ras 3).
Korean companies participating in this delegation were looking to expand their business globally and felt that the GCC and the UAE are promising thanks to the strategic location of the UAE which can serve as their “global business platform” that can catapult their business into the region. Also, the business opportunities in preparation for Expo 2020 are garnering a lot of attention from Korean companies.
“KOTRA, as the national trade and investment promotion agency of South Korea, has been in the UAE since 1976. KOTRA has been organising trade and investment related events for over 30 years in the UAE and in 2017, we are organising more than 20 events,” said Kwon Yongsuk, Regional President, Mena Head Office, Director General, Korea Trade Centre, Dubai.
“More and more up and coming Korean companies are interested in expanding to the GCC market and none is considered better than the UAE.
“Our firms not only believe the UAE is a crucial market as it is the business hub of the Mena region, but also are excited about the opportunities Expo 2020 is bringing.”