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Trade with South Korea grows 8% to AED 27.4b in 2017

Trade with South Korea grows 8% to AED 27.4b in 2017

by Insight World EditorMarch 25, 2018

Dubai non-oil external trade with South Korea grew 8% in 2017 compared to 2016 to AED 27.43b (AED 22.1b in imports, AED 4.47b in exports and AED 866m in re-exports).

South Korea is Dubai’s 8th biggest trade partner in imports and 9th in exports.

Ahmed Abdul Salam Kazim, Director of Strategy and Corporate Excellence said: ”Trade with South Korea is gaining more and more weight and value especially after signing the AEO mutual recognition agreement with them. This helps unfold horizons of mutual trade and facilitation between us which includes carrying out the clearance process before arrival of cargo to the port”.

“The visit of the South Korean President Moon Jae-in to the UAE is an indication of the solid relationship between the two states and will explore opportunities between the two countries in the realms of energy, healthcare, science, space and technology. Following the wise directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, we, at Dubai Customs, work hard to enhance relations with Korean diplomatic missions and businesses in support of trade activity” he added.

Kazim pointed out that growth in trade with Korea in 2017 invites for more and better results in the future.

Dubai Customs continually develops the services it provides to different businesses, especially ahead of EXPO 2020 in support of the UAE’s ambitious plans and visions including the UAE Centennial Plan 2071, Kazim concluded.

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Insight World Editor