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UAE invites Korean companies to its domestic market

posted on 14/04/2004: 564 views



Sheikh Fahim bin Sultan Al Qasimi, Minister of Economy and Commerce, has exhorted Korean companies to take part in the economic progress in the UAE, saying his country has the most vibrant economy in the region. Sheikh Fahim is a member of a high-level delegation accompanying Sheikh Hamdan bin Zayed Al Nahyan, Deputy Prime Minister and Minister of State for Foreign Affairs, on his four-day visit to South Korea, which will end on Wednesday.



He made the call as he was addressing Korean businessmen at a reception specially arranged by the UAE delegation at the imposing Shilla Hotel in Seoul. "Trade figures show that the volume of trade between Korea and the UAE has reached around US$8 billion in 2003, thus making Korea number 27 on the list of exporters to the UAE. The figures also show that more than 90 per cent of Korea's imports from the UAE comes from the oil sector”, he told the businessmen. These figures, he added, mean that the door is quite open for both countries to increase and diversify their exports to each other. (The Emirates News Agency, WAM)

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