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Value of contracts awarded to Korean companies in UAE cross $25bn

United Arab Emirates: Monday, January 30 - 2012 @ 12:19

Korean exports to the UAE amounted to $2.27bn from January to April 2011, representing an increase of 53% compared to the same period in 2010. Korean imports from the UAE during the time frame reached $4.58bn, increasing by 14.4%.

The UAE is also one of the biggest markets for South Korea’s contracting companies. In 2010, the total value of contracts awarded to Korean companies in the UAE reached $25.6bn, increasing from $16.8bn in 2009.

MIK is slated to run from May 21 to 23, 2012, at the Abu Dhabi National Exhibition Centre (ADNEC), gathering 300 high-profile Korean exhibitors from a wide range of industries including automotive, engineering, metal, hospitality, textile, electrical, chemicals, rubber and plastics, power, healthcare, ICT, media, construction, furniture, fashion, and sports.

“It is clear that bilateral relations between the UAE and South Korea are moving from strength to strength as both countries continue to explore new avenues to promote mutual growth and development. Trade volume between the two countries has reached $23bn in 2011, establishing South Korea as one of the key trading partners of the UAE and opening more opportunities for socioeconomic cooperation. Made in Korea will create a dedicated networking platform to help further strengthen trade relations between the two countries, while offering a unique venue to enhance cultural understanding,” said Faisal Al Raisi, Managing Partner at Ideal Idea Events, organisers of MIK 2012.

MIK 2012 will cover 14,000 sqm of prime exhibition space and will also feature host a series of conferences featuring prominent international speakers. Ideal Idea Events, the Emirati exhibitions and events’ company organizing MIK 2012, expects the three-day expo to draw in more than 25,000 visitors.

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Monday, January 30- 2012 @ 12:19 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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