Dubai Customs discusses furthering trade cooperation with South Korea

DUBAI, 2nd August, 2022 (WAM) -- Ahmed Mahboob Musabih, Director-General of Dubai Customs and CEO of Ports, Customs and Free Zone Corporation, held a virtual business meeting to enhance trade cooperation and partnership with South Korea.

He was joined by Moon Byung-Jun, South Korea Consul-General, and members of the South Korean Business Council in Dubai. Dr. Abullah Busanad, Executive Director for Customs Inspection, alongside a host of senior officers and heads of departments from Dubai Customs, also attended the meeting.

The meeting, which falls under the Ertebaat initiative, covered topics such as means of boosting economic cooperation and expanding cooperation with South Korean businesses and diplomatic missions.

Musabih reaffirmed the importance of cooperating with South Korea's diplomatic missions and companies to support mutual trade through providing high-quality services and facilities to clients and partners.

"It's very important for us to boost ties of partnership with our friends in the South Korean business councils and corporates," said Musabih, underlining that the growing bilateral ties between the UAE and Korea drive more business cooperation, capitalising on the recent economic and trade agreements signed between them.

He added, "Ties with our partners are gaining more weight and momentum, and we are working hard at Dubai Customs to develop our initiatives for better delivery of services and products. The UAE - South Korea's growing trade cooperation has led to the signing of a mutual recognition agreement to implement the Authorised Economic Operator (AEO) programme, which supports a rise in mutual trade by taking advantage of the facilities and incentives offered to traders and businesses certified as trusted AEOs in both countries. The UAE already has 107 companies joining the local AEO programme."

Musabih pointed out that the authority processed 12.7 million customs transactions in the first half of 2022, against 24 million customs transactions completed in 2021.

"We continuously develop our business operating models to support our partners' trade activities and reduce the cost of their operations. Any success we make is also a success for our partners. With this vision always in mind, we achieved 98% on the customer happiness index," he noted.

Byung-Jun, on his part, thanked Dubai Customs for their steadfast commitment to offering seamless and convenient services and facilities to South Korean businesses and to further reinforcing collaboration with South Korea diplomatic and business representative bodies.

"This, besides serving the interests of both parties, also fosters a favourable environment for easing trade and investment activity between India and the UAE through expanding economic and investment possibilities and enabling South Korean traders to enhance their operations in the region without any hassle."

In the meeting, presentations on the Authorised Economic Operator, the Cross Border e-Commerce Platform, as well as the World Logistics Passport were delivered, highlighting the great added-value benefits these initiatives bring to trade facilitation and overall business empowerment.