(MENAFN - Khaleej Times) The Third UAE-Korea Economic Partnership Forum will help create greater awareness among the business sector in both the countries, according to top government officials.
An official Press conference was held on Sunday in Dubai to announce the forum which will be held in Seoul between May 27-28, 2013. The third Forum is supported by Ministry of Foreign Affairs, Federation of UAE Chambers of Commerce and Industry, Department of Economic Development, Dubai FDI and organised by INDEX Conferences and Exhibition Organisation Est.
The forum aims to build special economic partnerships with South Korea and develops strong relationships in different sectors to attract more investment opportunities between the two countries, in addition to enhancing the bilateral cooperation in different fields, increase the volume of investment opportunities and also benefit from the investment opportunities that the forum will offer to the private and public sectors and the free zones in the country.
Dr Abdul Slam Al Madani, chairman of INDEX Holding, said: "The third UAE - Korea Economic Partnership Forum will create greater awareness among the business sector in South Korea on the role that the UAE plays on the regional and international level and in the fields of trade, investment, and in strengthening the position of the United Arab Emirates as a centre for trade and business in the Middle East, North Africa and South Asia."
The third UAE - Korea Economic Partnership Forum seeks to strengthen the joint efforts by the government of the UAE to promote and activate the business and economic partnership with South Korea, and this forum is a joint effort to strengthen bilateral relations between the UAE and South Korea and is an excellent platform to exchange innovations and developments in different business areas. The forum also focuses on raising awareness and highlighting the Korean commercial sectors and strengthening the trade relations between the two countries.
Ali Ibrahim, Deputy Director General for Planning and Development Affairs in the Department of Economic Development, Dubai, said: "South Korea is not only a vibrant economy but also a strategic partner for the UAE in vital sectors. There are further avenues where the UAE and South Korea can create game-changing synergies and Dubai particularly sees immense opportunities in South Korea's cutting-edge technology, as well as its focus on innovation and small and medium enterprises, all of which can be competitively expanded through Dubai."
Abdulla Sultan Abdulla, Secretary General of the Federation of UAE Chamber of Commerce: "After the great success that the UAE " Korea Economic Partnership Forum achieved back in 2006 and 2007 in Seoul, a lot of governmental authorities, organisations and businessmen were keen to participate in the coming edition.
The foreign trade between South Korea and the UAE was registered at Dh23.7 billion at a rate of 2.6 per cent of the total non-oil trade of the UAE with the world during 2011, and South Korea was ranked tenth in the geographical structure of the total non-oil foreign trade of the UAE."
"South Korean firms and investors have been pioneers in leveraging Dubai's advantages as a regional hub. Non-oil trade between Dubai and South Korea grew steadily during the past decade and climbed to Dh22 billion in 2011, from Dh19 billion in 2010. With financial services, healthcare, and green technologies fast-emerging in Dubai along with fresh optimism across the transport, tourism and real estate sectors, foreign investors have a wider field to link to over 2.2 billion consumers in the Middle East, Africa and South Asia," said Fahad Al Gergawi, Chief Executive Officer of Dubai FDI.
The forum will also include a trade exhibition that will feature a number of meetings and discussions between businessmen and major Korean companies in addition to a number of investors. The exhibition is also expected to attract a number of companies from different sectors like the trade sector, IT, Manufacturing, Tourism, Healthcare, Power, Finance, Aviation, Construction and Real Estate.