Today's Edition
KHALED AL KHAWALDEH (ABU DHABI)
The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has formalised a collaboration agreement with the Korea International Trade Association (KITA).
Signed in Seoul last week, the agreement aims to enhance cooperation between the private sectors of Abu Dhabi and South Korea, with a special focus on nurturing start-ups across various sectors.
"The signing of the collaboration agreement between the Abu Dhabi Chamber and the Korean Association aligns with the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and South Korea.
This agreement reflects our commitment to supporting the local business community, particularly start-ups, by promoting investment opportunities in South Korea to enable their global expansion from Abu Dhabi," H.E. Ahmed Khalifa Al Qubaisi, CEO of ADCCI, said at the ceremony.
"This partnership also aligns with our ongoing efforts to encourage private sector companies in South Korea to take advantage of Abu Dhabi's exceptional investment ecosystem, positioning it as a leading regional hub for start-ups, innovation, and market expansion," he added.
Al Qubaisi and his counterpart Lee In-ho, Vice Executive Chairman of KITA's Board of Directors, affirmed their commitment to fostering deeper economic ties.
The agreement was signed during ADCCI's participation in NextRise 2024, a renowned start-up conference organised by KITA, and was intended to underscore the synergy between the two organisations in promoting entrepreneurial ventures.
The agreement signifies a mutual dedication to creating favourable investment environments for start-ups in both the UAE and South Korea, thereby reinforcing Abu Dhabi's stature as a leading start-up hub in the Middle East and North Africa (MENA) region.
"This partnership aligns with the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and South Korea, emphasising our support for local businesses, especially start-ups," stated Al Qubaisi.
Al Qubaisi said the ADCCI remains committed to supporting national initiatives that accelerate the growth of start-ups and SMEs and highlighted the success of the UAE-Korea Business Forum 2023, which saw the signing of 23 agreements between the two countries.
Under the newly forged agreement, ADCCI and KITA, representing over 73,000 members, will collaborate closely to enhance the AD Business Connect platform. This initiative aims to facilitate information sharing on new investment opportunities and promote them among their respective memberships.
The partnership will also facilitate the exchange of knowledge and bolster trade and investment opportunities between Abu Dhabi and South Korea.
Both organisations have committed to mutual benefits through the exchange of updates on investment landscapes, reciprocal trade delegations, joint event organisation, and participation in international exhibitions.
Their joint efforts will provide support to start-ups in Abu Dhabi and South Korea, nurturing their growth and prosperity in global markets.
