Thursday 23 September 2021

Image courtesy: Dubai Media Office

Dubai-S Korea non-oil trade surges 8.4pc in 2017

DUBAI, July 8, 2018

Dubai’s non-oil external trade with South Korea grew 8.4 per cent in 2017 compared to 2016 to touch Dh27.43 billion ($7.46 billion), a media report said.

The value of imports reached Dh22.1 billion, while exports and re-exports amounted to Dh4.47 billion and Dh886 million respectively, reported Dubai Media Office.

The announcement came about as Ahmed Mahboob Musabih, director of Dubai Customs recently met with Jion Yung Wok, the newly appointed South Korean Consul General.

Musabih reaffirmed the importance of enhancing cooperation with the South Korean diplomatic mission, business council and Korean companies.

Musabih pointed out that Dubai Customs places great importance to promote ties with Dubai trade partners through the provision of best customs facilities, services and products.

“Enhancing trade ties with our partners will help them receive the best customs facilities, which will add great value to their business. There are many Korean companies in the UAE, and we work closely with them to keep them involved in developmental efforts and to help them have easy access to our products and services,” Musabih said.

“We keep our channels of communication with the South Korean firms open. We also have effective communication with the South Korean diplomatic missions and the Indian Business Council through our program (Irtibat) which was launched by Dubai Customs to promote two-way communication with business councils and diplomatic missions in Dubai.”

Musabih pointed out that business relations with South Korea are gaining more importance, and that it was the first country to sign the AEO (Authorized Economic Operator) mutual recognition agreement with the UAE.

Jion Yung Wok applauded Dubai Customs’ efforts in supporting national economy and developing tourism and trade, stating that Dubai Customs is a world-class customs department that has a very advanced system which plays a major role in supporting trade and protecting society.

Tags: Dubai | South Korea | Non-oil trade |

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