Sharjah and S. Korea to enhance economic, investment cooperation

The Sharjah Chamber of Commerce and Industry (SCCI) has discussed with the Consulate-General of the Republic of South Korea in Dubai means of enhancing economic cooperation and commercial relations between companies and investment institutions operating in Sharjah and South Korea.

They also discussed ways of supporting partnerships, along with investment opportunities available in information technology, healthcare, tourism, and culture.

This came during a visit of Moon Byung-Jun, Consul-General of South Korea in Dubai, to the SCCI headquarters, where he was received by Mohammed Ahmed Amin Al-Awadi, Director-General of the Chamber, and Fatima Khalifa Al Mokarrab, Director of International Relations Department at the Chamber.

While welcoming the visiting delegation, Al-Awadi underlined the depth of UAE-South Korea relations, where the latter is considered one of the most important trading partners for the UAE and the Emirate of Sharjah in particular.

Al-Awadi pointed out that the UAE is the largest market for South Korean exports in the GCC and the fourth largest market for South Korean imports in the region, noting that the volume of trade exchange between the two countries reached $9.4 billion in 2020.

The SCCI Director-General highlighted the services provided by the Sharjah Chamber to businessmen and investors, hoping that this visit would advance the economic and investment ties between the two countries.

He stressed that the Chamber is keen to attract investments, build commercial partnerships, and promote the rewarding opportunities available in various economic sectors in Sharjah. It also provides enormous incentives and benefits to attract businessmen from worldwide to maintain the pioneering position of the emirate as a prominent economic hub both regionally and globally.

Byung-Jun, in turn, thanked the Chamber for the warm reception and the keenness it showed to provide means of support and coordination with the Korean business community. He also lauded renaissance and economic development witnessed by Sharjah in various fields, expressing his eagerness to extend the existing cooperation with the Chamber to enhance mutual trade and investment relations.

The South Korean Consul-General pointed to the importance of South Korean companies participating in the exhibitions hosted by the Expo Centre Sharjah, such as the SteelFab, the Watch & Jewellery Middle East Show (WJMES), and other cultural events hosted by Sharjah which is considered a regional leader in this field.

Earlier the Sharjah Chamber of Commerce & Industry (SCCI) commended the wise approach and vision of His Highness Sheikh Dr Sultan Bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, which has helped Sharjah economy to be more resilient and adaptable and has enhanced its stability and growth, something that reflected on providing a safe, stable, and attractive business environment and boosted Sharjah’s position on the global economic map.

This came during the 17th periodic meeting of the Board of Directors of the Sharjah Chamber which took place at the SCCI headquarters and headed by Abdullah Sultan Al Owais, SCCI, Chairman, in the presence of Sheikh Majid Bin Faisal Al Qasimi, First Vice-President of the Chamber, and members of the Board of Directors, Mohammed Ahmed Amin Al-Awadi, Director General of the Chamber, Maryam Saif Al Shamsi, Assistant Director-General of the Support Services Sector, and Abdulaziz Shattaf, Assistant Director-General of the Member Services Sector, Director of the Sharjah Export Development centre (SEDC).

The meeting also reviewed the semi-annual strategic plan for the current year, which includes a number of objectives, most notably focusing on revitalizing and supporting the business sector to enhance its ability to overcome the challenges of the current circumstances.

Discussions also focused on a number of future projects the SCCI is intending to launch, in addition to highlighting the Sharjah Summer Promotions which has already started and is set to continue until Aug.26.

Abdullah Sultan Al Owais hailed the tremendous efforts being made by the wise leadership of the Emirate of Sharjah and its forward-looking vision, as well as the distinguished economic climate it provided to support business sectors and strengthen the development process of the emirate.

Al Owais added: “This year was an exceptional one for the SCCI. We have managed to unlock several achievements, either in terms of the rise in the number of new memberships and companies that joined the Chamber or the launch of many developmental projects. Such achievements wouldn’t have been possible hadn’t been for the wise directives and unstinting support of His Highness Sheikh Dr Sultan Bin Muhammad Al Qasimi, Member of the Supreme Council the Ruler of Sharjah, as well as the strenuous follow-up of His Highness Sheikh Sultan Bin Muhammad bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of the Sharjah Executive Council, something that has enabled the Chamber to assume its responsibilities towards the business community and the private sector.”