UAE strengthens relations with South Korea for SME Growth

UAE strengthens relations with South Korea for SME Growth

The Abu Dhabi Chamber of Commerce and Industry and the Korea Federation of Small and Medium Businesses (KBIZ) have inked an agreement to promote economic and business ties between their members.

Signed in Abu Dhabi,  the cooperation agreement ensures that both entites support the business environment as a worldwide framework for constructive collaborations, technology transfer, best practices, and mutual investment.

Both parties agree to mutally help each other in arranging constructive visits and creating effective and viable communication channels, virtual seminars, among others to enhance and streamline relations. This manifests itself in the form of  market research in the UAE and Korea, organizing economic and trade seminars, business talks, and other necessary business activities.

For the last 40 years, commercial contracts between the UAE and South Korea have been in place and their relationship has gradually solidified reaching the level of a powerful strategic alliance.

Further more, the agreement will enable and enhance knowledge sharing by making use of both nations’ vast resources, particularly in the fields of creativity and innovation, SME growth, healthcare, education, and medicine.