In an affirmation of its growing international presence and reputation as a key business hub in the Middle East, Dubai Airport Freezone recently participated in a series of exhibitions and seminars across South Korea, Taiwan and Manchester (UK).
Nasser Al Madani, Assistant Director General at Dubai Airport Freezone, commented on this development: “By seeking to attract international businesses, Dubai Airport Freezone aims to support the Government’s vision to attract foreign investments. Our remarkable success has been driven by the exceptional services and customized infrastructure we provide to businesses in our cluster.”
“Dubai Airport Freezone generated keen interest from Korean companies at the recently concluded Korean Overseas Investment Fair (KOIF), which was aimed at strengthening the business relations between South Korea and other countries”, he added.
More than 30 countries and 700 Korean companies took part in the fair. The UAE is the second largest trading partner for South Korea in the Middle East, while South Korea is one of UAE’s largest investor in commodities and services sectors like IT, automotive, contracting and energy.
Between January and April of 2011 Korean exports to the UAE was worth $2.27 billion, representing a 53% increase as compared to the same timeframe last year. Conversely, Korean imports from the UAE amounted to USD4.58 billion between January and April 2011; this represents an increase of 14.4% over the figures recorded in the same period last year.
Similarly, Dubai Airport Freezone participated in seminars in the United Kingdom and Taiwan to emphasize Dubai’s offering as a viable business destination. In a sign of deepening trade relations between the UAE and Taiwan, for instance, total trade between the two countries reached $1.276 billion in the first three months of 2011, while increasing 42.93% in 2010 as compared to 2009.
“Given its unique geographical advantage and the availability of world-class amenities, Dubai stands as an excellent launch pad for businesses to tap into the economic potentials of the Middle East and beyond,” said Al Madani.
The drive to attract global trade partnerships have seen Dubai Airport Freezone collaborate with key organizations like the Institute of Directors (IoD) United Kingdom, Taiwan External Trade Development Council (TAITRA), the Middle East Business Association (MEBA), Korean Trade Investment Promotion Agency (KOTRA), Department of Tourism and Commerce Marketing (DTCM) Dubai, and the Dubai Chamber of Commerce and Industry, among others.
Al Madani added, “Through these seminars, business leaders in other countries are able to get a first-hand view of huge opportunities available in Dubai Airport Freezone in particular and Dubai in general. Going forward, we’re looking to collaborate with many other relevant trade organizations globally to further entrench our unique offering to businesses in foreign markets.”