A partnership to enhance the entry of Korean companies into the regional “halal” markets

The Halal Trade and Marketing Center of the Dubai Integrated Economic Zones Authority (DIES), which is headquartered in the Dubai Airport Free Zone (DAFs), announced the signing of a memorandum of understanding with the Korea International Trade Association (KITA), with the aim of supporting Korean companies wishing to enter or expand their presence in the halal markets in the UAE and the Middle East and Africa region, by providing guidance and guidance programmes, commercial conciliation and building institutional partnerships.

The memorandum comes in light of the continued growth of the global Islamic economy, which has reached $2.60 trillion in 2024, with expectations of it rising to $3.56 trillion by 2029, driven by growth in the sectors of halal food, halal medicine, modest fashion, tourism and Islamic media, which enhances the importance of the UAE as a strategic gateway to halal trade and a major center linking global markets with growth opportunities in the Middle East and Africa.

Under the memorandum, the two sides will work to enhance the readiness of Korean companies to take advantage of the opportunities available in the halal markets, by providing specialized guidance and guidance programs for member companies of the Korean International Trade Association, which will help them understand the requirements of the target markets and the relevant accreditation and certification mechanisms, and enhance their ability to expand in the region.

The two parties will also cooperate to implement trade matchmaking initiatives that will allow Korean companies to reach buyers, importers, distributors, retailers and potential business partners in the Gulf Cooperation Council countries and the Middle East and Africa region, in addition to facilitating communication with accreditation bodies, regulatory bodies, specialized institutions and industrial associations, which will contribute to accelerating the entry of companies into target markets and transforming commercial opportunities into sustainable investment and business partnerships.

Director General of DAFZ, Amna Lootah, said, “This memorandum reflects the importance of building bridges of cooperation that combine commercial expertise and specialized knowledge in the halal sector,” pointing out that the region seeks, through the Halal Trade and Marketing Center, to enable Korean companies to understand the requirements of target markets, benefit from specialized guidance and guidance programs, and enhance communication with stakeholders and potential partners, in a way that supports growth and expansion opportunities in regional and global halal markets.

She added that this partnership is in line with DAFZ’s efforts to consolidate Dubai’s position as a global center for halal trade, and enhance its role in linking international companies with the promising opportunities provided by the Middle East and African markets.

For his part, President of the Korean International Trade Association in the Middle East and North Africa, Viljae Park, said, “The memorandum represents an important step towards enhancing Korean companies’ access to halal markets in the region, and that by combining business matchmaking, specialized guidance and institutional communication, we look forward to providing a supportive environment that helps Korean companies benefit from the great opportunities provided by the halal economy, and enhance their presence in high-growth markets.”