KITA Chairman Jin-sik Yoon had a meeting with Abdulla Bin Touq Al Marri, the Minister for Economy & Tourism of the United Arab Emirates on Monday, 22 September local time in Abu Dhabi, UAE and discussed possible avenues of boosting bilateral cooperation between Korea and the UAE. Chairman Yoon is visiting the UAE to attend the kick-off ceremony of Korea- UAE Joint Business Council*.
* This Joint Business Council is being introduced as a follow-up measure in line with the MOU signed in January 2023 between KITA and UAE Chambers. The Council is to be officially kicked off in Abu Dhabi.
During the meeting, Chairman Yoon mentioned, "As a country blessed with energy resources and its advantage of location in terms of geopolitics, thereby attracting a vast network of investors, UAE has high potential in cooperating with Korean companies" and added, "It is my hope businesspeople of Korea and the UAE engage in more robust cooperation". In response, Minister Abdulla Bin Touq Al Marri mentioned, "I sincerely wish faster growth of Korean companies by taking advantage of the UAE, which is serving as a testbed for emerging industries and a hub for start-ups in the Middle East". The Minister added, "It is my hope that the two countries to mutually benefit from exchanges in cutting-edge technologies and human resources".
Aside from Chairman Yoon, Korean business representatives also joined the visit to the UAE, who had an opportunity to engage in dialogue with the Minister. They asked for cooperation in assessing the level of penetration of illegal distribution channels to ensure sustainable business between Korea and the UAE and also proposed possible avenues for cooperation in cutting-edge sectors, including Stablecoin and Artificial Intelligence Transformation (AX).