Sharjah Chamber is looking to strengthen investment partnerships with the South Korea business community

Sharjah, September 29/ WAM/ The Sharjah Chamber of Commerce and Industry organized the “Business Forum between Sharjah and Korea” with the aim of exploring new horizons for cooperation, reviewing promising investment opportunities, enhancing communication between the business community in the Emirate of Sharjah and the Republic of Korea and deepening partnerships in strategic sectors that include digital industries, artificial intelligence, financial technology and digital health care along with smart transport solutions and machines Advanced.

The forum – which was held at the headquarters of the Chamber – witnessed the signing of a memorandum of understanding between the Sharjah Chamber and the Korean International Trade Association with the aim of strengthening trade relations and developing mutual cooperation and encouraging, promoting and facilitating economic cooperation between business societies in both friendly countries.

The memorandum was signed by His Excellency Abdullah Sultan Al Owais, Chairman of the Board of Directors of the Sharjah Chamber of Commerce and Industry, His Excellency Jin Sick Yun, President of the Korean International Trade Association, in the presence of His Excellency Mohamed Ahmed Amin Al -Awadi, Director General of the Sharjah Chamber and a number of officials of both sides.

According to the Memorandum of Understanding, the two sides will encourage the exchange of commercial delegations and discussions in the fields of export and economy and support for the follow -up of visits for this purpose in addition to coordination to establish and expand a commercial network that facilitates the circulation of business opportunities available to the two countries and the exchange of commercial data and statistics and the activation of joint research activities in addition to participation in events, exhibitions and economic conferences of each side.

The forum – which witnessed the presence of representatives of more than 100 companies from the Emirate of Sharjah and South Korea representing the various economic, commercial and investment sectors – showed ways to enhance partnerships in the technological sectors, the energy sector and the infrastructure led by major companies in the fields of construction and renewable energy in a move that reflected the common concern to move the relations of cooperation between the business community in the two countries to an advanced stage of economic integration based on innovation And affirming mutual interest in strengthening ties and establishing sustainable partnerships that support the economic growth process in Sharjah and South Korea.

His Excellency Abdullah Sultan Al Owais emphasized that the forum is a milestone in the growing economic relations march between the UAE and South Korea, which rose to the level of a firm partnership based on deep confidence and concrete achievements, indicating that the volume of non -oil trade exchange between the two countries amounted This partnership exceeds the numbers to include a long -term strategic commitment embodied in the UAE’s declaration of its intention to invest $ 30 billion in vital sectors in South Korea, which is met by an active Korean investment in the UAE.

He added that the wise leadership of the state views South Korea as a strategic partner in the state’s march towards the future and that the forum translates this vision on the ground in the Emirate of Sharjah, which has become an attractive investment destination thanks to its various economic environment and its flexible legislation and strategic location is a gateway to regional markets, explaining that the focus of the forum on the innovation and technology sectors is consistent with the goals of the “vision of the UAE 2031” Raising to double GDP and enhance the knowledge economy.

Al -Owais called on the Korean companies to take advantage of the competitive advantages that Sharjah provides to establish its business and start from them towards broader horizons, stressing that the Chamber is fully prepared to provide all possible support for the success of these partnerships.

For his part, His Excellency Jin Sick Yun stressed the strategic importance that his country attaches to deepening economic relations with the United Arab Emirates and Sharjah in particular, describing the forum as a valuable opportunity to open new channels to communicate and build sustainable partnerships.

He said that the business community in South Korea gives interest to the complementarity between the advanced technologies and industrial experience that the UAE has a promising market, financing and ambitious strategic vision, indicating that the next stage will witness a qualitative shift in the relations between the business community in the Republic of Korea and Sharjah in light of what the business environment in Sharjah has an investment climate that motivates Korean companies to explore promising opportunities.

The forum concluded with a series of bilateral work meetings that brought together businessmen and officials from both sides, and specialized sessions centered on discussing the mechanisms of building effective partnerships and discussing the available investment opportunities in the targeted sectors and exploring the capabilities of cooperation and mutual coordination in future projects in a way that serves common interests and contributes to promoting sustainable economic growth in Sharjah and South Korea.

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