Abu Dhabi Exports signs agreement with Korea Trade Insurance to promote trade

Abu Dhabi Exports Office signed an agreement with the Korea Trade Insurance Corporation, on the sidelines of the UAE-Korean Business Forum, organized by the Abu Dhabi Chamber of Commerce and Industry. His Excellency Yoon Suk-yeol, President of South Korea, was present at the event.

The agreement aims to promote Emirati exports, drive investment, and explore fresh opportunities to carry out partnership projects, especially in the field of hydrogen, nuclear and renewable energy, and electric vehicles, thus increasing the volume of trade between the UAE and South Korea.

The agreement was signed by His Excellency Mohamed Saif Al Suwaidi, the Director General of Abu Dhabi Fund for Development and Chairman of the Exports Executive Committee of the Abu Dhabi Exports Office; and Inho Lee, Chairman and President of Korea Trade Insurance Corporation. The ceremony was attended by Khalil Al Mansouri, the Acting Director General of Abu Dhabi Exports Office; and several officials from both sides.

HE Al Suwaidi said: “This new partnership will lead to stronger cooperation with K-SURE, acceleration of economic activity in vital sectors, and development of exports of the two countries.”

He pointed out that such partnerships create opportunities to champion the interests of Emirati companies and contribute to raising the competitiveness of Emirati products in the global market.

“Through our partnership, we will continue to provide competitive financing to Korean companies to import Emirati goods and services. The partnership will also enable us to increase the presence of Emirati products in the international market,” HE Al Suwaidi added.

Inho Lee, Chairman and President of Korea Trade Insurance Corporation, expressed his delight at signing the agreement, calling it an important step towards strengthening the partnership with ADEX to support various important sectors that would benefit the economies of the two countries.

He said that the agreement would stimulate investment and development, enhance bilateral trade, and strengthen exports, especially as it protects Emirati companies from potential financial risks.