XX October, 2021, Dubai, UAE: The Dubai Airport Freezone Authority (DAFZA) met with a delegation from the Korean Economic Zone Planning Office to discuss future cooperation prospects, and to facilitate an improved trade and investment exchange between the UAE and South Korea.
The delegation was received by His Excellency Dr. Mohammed Al Zarooni, Director General of DAFZA; Amna Lootah, Assistant Director General of DAFZA. The South Korean delegation was chaired by His Excellency Moon Byung Jun, Consul General of the Republic of Korea, and Choi Young Joon, Deputy Consulate General of the Republic of Korea in Dubai; Ahn Sung-il, Director General of Free Economic Zones, and a number of senior officials from both sides.
During the meeting, the delegation received a detailed briefing on the world-class infrastructure and facilities available at the Freezone near Dubai International Airport. It was explained that the Freezone is an ideal base for foreign clients and companies seeking a vital investment and economic environment for business in the UAE, including tax benefits, and the administrative, technical, and logistic services that ensure seamless business operations. Dubai Airport Freezone also provides smart platforms and digital services which make it one of the most advanced and flexible freezones in the world.
The delegation was also briefed about Dubai CommerCity, the first freezone for e-commerce in the Middle East, North Africa, and South Asia region. South Korean companies can benefit from the growth witnessed in the e-commerce sector to expand in the region, starting from the global centre of e-commerce in Dubai. They were also briefed on the Freezone’s portfolio of unique solutions and services, advanced facilities, and specialised skills that help companies start-up and conduct business.
The briefing included Tradeling, the fast-growing e-market that focuses on B2B trade in the MENA region, which connects global suppliers to regional businesses, and facilitates new opportunities for companies from all over the world.
The delegation was also informed of the support provided by the World Free Zones Organization (World FZO) to its members, and its role in coordinating, conducting research, seminars and joint studies, organising workshops, creating opportunities, and exchanging ideas, leading to the development of freezones and greater awareness in economic, commercial, and investment circles.
His Excellency Dr. Mohammed Al Zarooni, Director General of DAFZA, said: “The Dubai Airport Freezone targets all vital and important economic markets, to attract companies from around the world to expand in Dubai. During the meeting with the Korean Economic Zone Planning Office delegation, we outlined the strategic positioning of Dubai and the Dubai Airport Freezone to enhance investment opportunities as well encourage companies to expand in the Middle East.
“The Asian continent is DAFZA’s biggest trade partner, which makes up 42.6% of the overall trade conducted by the Freezone last year. We are aiming to increase this number in the coming period by launching a series of initiatives, projects, and incentive packages that act as strategic factors for attracting more Asian investments, including from South Korea, to Dubai,” His Excellency added.
The delegation’s visit included a tour of the Dubai Airport Freezone facilities, including the Dnata shipping centre and Dubai CommerCity.