SEOUL, 18th September, 2018 (WAM) — The Abu Dhabi Chamber of Commerce and Industry, ADCCI, has signed, at its headquarters in Abu Dhabi, a Memorandum of Understanding, MoU, with the Gyeonggido Business and Science Accelerator, GBSA, of Gyeonggi Province, South Korea, as part of its efforts to strengthen its bilateral relations and strategic partnerships with friendly countries, to develop commercial and investment relations.
The MoU was signed by Helal Mohammed Al Hameli, Deputy Director-General of the ADCCI, and Ik Sok Choi, Executive Director of the International Trade Sector of South Korea, with the attendance of Jin Hyong Kim, Deputy Governor of Gyeonggi Province.
Al Hameli stated that the UAE is currently South Korea’s largest commercial partner in the region while South Korea is one of the key commercial partners of the UAE, especially Abu Dhabi, while pointing out that the ADCCI’s relationship with South Korea is exceptional and strong, and has witnessed remarkable development in terms of cooperation and joint commercial exchange over recent years, since the launch of an ADCCI representative commercial office in the Korean capital, Seoul, in 2015.
The signing of the MoU aims to strengthen the work between both sides, as part of a strategy to highlight investment opportunities and attract more Korean companies to invest in the sectors specified in the Abu Dhabi Economic Vision 2030, as well as introduce companies, institutions and businessmen from Abu Dhabi to commercial and investment opportunities available in South Korea, and support these companies in establishing partnerships and economic and investment cooperation, which will benefit both sides, he added.
Al Hameli stated that the MoU stipulates promotion of cooperation in the areas of commerce and industry and encouraging commercial and investment exchange among the business sectors of both countries, as well as exchanging information and visions and coordinating meetings.
It also speaks of introducing opportunities to businessmen and investors, offering various services, providing the necessary facilitation to commercial delegations, and organising exhibitions, international forums and specialist conferences related to money, business and industrial investment, with the aim of promoting economic cooperation, expanding its range to include new sectors, developing capital markets, and encouraging investors.