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Mar, 27 2018

Dubai's non-oil external trade with South Korea grows to $7.4bn

South Korean President Moon Jae-in to the UAE to explore strong ties in sectors such as energy, healthcare, science, space and technology, the figures have been released.

Dubai's non-oil external trade with South Korea grows to $7.4bn

According to official figures, Dubai's non-oil external trade with South Korea grew eight percent in 2017 to reach AED27.43 billion ($7.4 billion).

 State news agency WAM reported that, of the total AED22.1 billion were in imports, AED 4.47 billion in exports and AED866 million in re-exports.

It also said South Korea is Dubai’s eighth biggest trade partner in imports and ninth in exports.

The figures that was released after the visit of South Korean President Moon Jae-in to the UAE to strong ties in sectors such as energy, healthcare, science, space and technology.

Ahmed Abdul Salam Kazim, director of strategy and corporate excellence, Dubai Customs 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 facilitations 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."

Kazim said "Invites for more and better results in the future ",in the comments published by WAM that growth in trade with Korea in 2017.

 

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