Sharjah Chamber opens up new cooperation with South Korea … reports Asian Lite News
The Sharjah Chamber of Commerce and Industry, SCCI, recently signed a Memorandum of Understanding, MoU, with Gyeonggi Business and Science Accelerator, South Korea, to improve cooperation between the two sides and establish partnerships for the benefit of businessmen and the economic sector in the emirate of Sharjah and Gyeonggi-do Province.
The agreement is also aimed at strengthening the exchange of trade and economic cooperation by expanding commercial and investment relations between the two sides, in addition to bolstering Korean companies seeking to invest in Sharjah.
The MoU was signed by Mohammad Ahmed Amin Al Awadi, SCCI’s Director-General, and Kim Ki-Joon, CEO of Gyeonggi Business and Science Accelerator, in the presence of Abdullah Sultan Al Owais, the Chairman of the SCCI; Ahnsong Kok, Ambassador of Gyeonggi Province, and a number of SCCI employees.
“This agreement is part of the SCCI’s strategy to highlight the investment opportunities in Sharjah and entice more Korean companies to invest in various sectors. It also aims at introducing businessmen and trade companies in Sharjah to the trade and investment opportunities available in South Korea. The MoU will help us establish new partnerships and fruitful economic and investment opportunities to pour in the interest of both sides,” said Abdullah Sultan Al Owais.
Regarding the agreement, Mohammad Ahmed Amin Al Awadi added, “By signing this agreement, we look forward to exploiting the capabilities of Korean companies and institutions. This can be done through strategic partnerships with South Korean academic, research, trade, and investment institutions.”
The relationship between the UAE and South Korea is witnessing considerable growth in the economic field, with the energy sector being one of the most important domains that sees close cooperation between the two friendly countries.
According to 2017 statistics, the volume of trade between the UAE and South Korea reached US$14 billion, while the number of South Korean companies operating in the UAE reached 20 companies registered with the SCCI, in addition to 21 South Korean investors.