KITA opens office in Dubai for Middle East, Africa

The Korea International Trade Association said Wednesday it has set up an office in Dubai, the first regional arm in the Middle East and Africa, following President Moon Jae-in’s latest visit to the United Arab Emirates.

The office will support small and mid-sized companies jumping into the markets of the Middle East and Africa, provide them with trade and market information and speak for the interests of Korean companies by building a network.

“Through the UAE office, we hope many excellent Korean startups will more actively jump into the Middle East market,” said Kim Young-ju, chief of KITA.

Saed Alawadi, CEO of Dubai Export Development Corp., and Arif Amiri, CEO of Dubai International Financial Center, also attended the ceremony to celebrate the opening of the regional office.

KITA also signed a memorandum of understanding with Abu Dhabi Chamber of Commerce and partnered with Dubai International Financial Centre and Dubai Future Accelerators.

On Tuesday, KITA held a Korea-UAE business forum jointly with the Dubai Chamber of Commerce.

Around 300 business leaders from Korea and the UAE attended the forum to discuss the expansion of partnerships in diverse areas, including renewable energy, information technology, medical care and financial services.

President Moon said in his keynote speech he rated highly the relationship between the two nations that has grown to be the only special and strategic partner in the Middle East.

“Korea is strong in the manufacturing and information communication technology sectors while the UAE has excellent infrastructure and financial competitiveness. I believe the mutual cooperation can lead to the growth of the both nations,” said KITA CEO Kim Young-ju in his welcome speech.

By Shin Ji-hye (shinjh@heraldcorp.com)