How diplomats helped Dubai boost trade with Korea

3 August 2021

 

Dubai has reported growth in business with Korea following a series of diplomatic meetings to build up relations. 
External trade reached AED3.24bn (£0.63bn) in the first quarter of this year, indicating a likelihood of exceeding last years’ annual figure of AED13.56bn (£2.65bn). 
The majority of Q1 trade came from imports, at AED2.55bn (£0.5bn), followed by exports at AED549.78m (£107m), and finally re-exports at AED137.47m (£26.86m).
In 2020, whole-year imports yielded AED11.5bn (£2.25bn), exports AED1.6bn (£0.3bn) and re-exports reached AED456.92m (£89.26m), director general of Dubai Customs Ahmed Mahboob Musabih said.
“Boosting cooperation with the Korean diplomatic missions is very important to us,” said Musabih. 
“These efforts will help in developing trade between Dubai and Korea. We received H E Moon Byung-iun, Consul General of the Republic of Korea, and discussed with him means to augment volume and value of mutual trade.”
According to Musabih, Dubai is focused on delivering services and facilities to all participants in the EXPO2020 project as a means to support recovery of the global economy. And trade alignment on this project is key for Dubai.  
“We highlighted our initiatives in this regard to our Korean strategic partners. These include the exclusive Expo Smart Channel, the EXPO Customs Office, which Dubai Customs dedicated to participants in this global grand event.” 
Moon Byung-iun said Korea is keen to support the delivery of  EXPO2020 and economic growth, and diplomatic missions will play a part in this.

Dubai has reported growth in business with Korea following a series of diplomatic meetings to boost relations

External trade reached AED3.24bn (£0.63bn) in the first quarter of this year, indicating a likelihood of exceeding last years’ annual figure of AED13.56bn (£2.65bn).

The majority of Q1 trade came from imports, at AED2.55bn (£0.5bn), followed by exports at AED549.78m (£107m), and finally re-exports at AED137.47m (£26.86m).

In 2020, whole-year imports yielded AED11.5bn (£2.25bn), exports AED1.6bn (£0.3bn) and re-exports reached AED456.92m (£89.26m), director general of Dubai Customs Ahmed Mahboob Musabih said.

“Boosting cooperation with the Korean diplomatic missions is very important to us,” said Musabih.

“These efforts will help in developing trade between Dubai and Korea. We received H E Moon Byung-iun, Consul General of the Republic of Korea, and discussed with him means to augment volume and value of mutual trade.”

According to Musabih, Dubai is focused on delivering services and facilities to all participants in the EXPO2020 project as a means to support recovery of the global economy. And trade alignment on this project is key for Dubai. 

“We highlighted our initiatives in this regard to our Korean strategic partners. These include the exclusive Expo Smart Channel, the EXPO Customs Office, which Dubai Customs dedicated to participants in this global grand event.”

Moon Byung-iun said Korea is keen to support the delivery of  EXPO2020 and economic growth, and diplomatic missions will play a part in this.

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