UAE, South Korea agree to strengthen trade ties

UAE, South Korea agree to strengthen trade ties

DUBAI, 27th October, 2021 – The Dubai Airport Freezone Authority (DAFZA) has welcomed a delegation from the Korean Economic Zone Planning Office to review future cooperation prospects, and to facilitate an improved trade and investment exchange between the UAE and South Korea.

The delegation was received by Dr.

Mohammed Al Zarooni, Director-General of DAFZA; and Amna Lootah, Assistant Director-General of DAFZA.

The South Korean delegation was led by Moon Byung Jun, Consul-General of the Republic of Korea, and included Choi Young Joon, Deputy Consulate General of the Republic of Korea in Dubai; Ahn Sung-il, Director General of Free Economic Zones, and a number of senior officials.

The delegation was briefed on the world-class infrastructure and facilities available at the Freezone near Dubai International Airport.

It was also informed about Dubai CommerCity, the first freezone for e-commerce in the Middle East, North Africa, and South Asia region.

The briefing included Tradeling, the fast-growing e-market that focuses on B2B trade in the MENA region, which connects global suppliers to regional businesses, and facilitates new opportunities for companies from all over the world.

The delegation was also informed of the support provided by the World Free Zones Organization (World FZO) to its members, and its role in coordinating, conducting research, seminars and joint studies, organising workshops, creating opportunities, and exchanging ideas, leading to the development of freezones and greater awareness in economic, commercial, and investment circles.

Al Zarooni commented, “The Dubai Airport Freezone targets all vital and important economic markets, to attract companies from around the world to expand in Dubai.

During the meeting with the Korean Economic Zone Planning Office delegation, we outlined the strategic positioning of Dubai and the Dubai Airport Freezone to enhance investment opportunities as well encourage companies to expand in the Middle East.

“The Asian continent is DAFZA’s biggest trade partner, which makes up 42.

6% of the overall trade conducted by the Freezone last year.

We are aiming to increase this number in the coming period by launching a series of initiatives, projects, and incentive packages that act as strategic factors for attracting more Asian investments, including from South Korea, to Dubai,” he added.

The delegation’s visit included a tour of the Dubai Airport Freezone facilities, including the Dnata shipping centre and Dubai CommerCity.