Tuesday 24 November 2020 - 8:16:23 pm

Federation of UAE Chambers of Commerce and Industry, Korea International Trade Association sign MoU


DUBAI, 1st November, 2020 (WAM) -- The Federation of UAE Chambers of Commerce and Industry and the Korea International Trade Association, KITA, signed a Memorandum of Understanding, MoU, remotely via video conferencing.

The MoU aims to reinforce their cooperation and enable them to benefit from the services provided to local and international investors, as well as to promote investment and support economic development.

Hassan Al Hashemi, Secretary-General of the Federation, stated that the MoU’s signing reflects the interest of the UAE’s private sector in reinforcing its commercial ties with South Korea, highlighting the significant role of Korean companies engaged in major joint projects in the UAE.

The MoU is part of the cooperation between the federation and KITA in exchanging information, exploring investment and commercial opportunities for Emirati and Korean companies, and holding various economic events, such as conferences, seminars and exhibitions, to find solutions to challenges facing the private sectors of the two countries.

Gi Hyun Kim, President of KITA, thanked the federation for its cooperation, noting that the signing of the MoU represents progress in the UAE’s commercial ties with South Korea.

Both sides also expressed their readiness to organise a roundtable discussion to explore investment opportunities, with the participation of Emirati and South Korean public and private sector companies and institutions.

WAM/Tariq alfaham/Hazem Hussein