Sharjah asserts its presence at UAE-Korea Forum in Seoul

28 May 2013  2036 | World Travel News

SEOUL - The Third UAE-Korea Economic Partnership Forum concluded here yesterday on a successful note after two days of very fruitful meetings and talks led by HE Abdulla Ghobash, the UAE Minister of State, under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai and in the presence of HE Sheikh Sultan bin Ahmed Al Qassimi, Chairman of the Sharjah Media Corporation and Sharjah Media Center and a number of senior government officials and dignitaries.

HE Sheikh Sultan Bin Ahmed Al Qasimi and HE Mohammed Ali Al Noman, Chairman, Sharjah Commerce and Tourism Development Authority received HE Abdulla Ghobash at the Sharjah stand and briefed him on the participation of the emirate in the forum and various economic and tourism products and services on the offer and initiatives and efforts being made to attract international tourists and investors to the emirate.

Forum to help all stake holders of Sharjah: Al Qasimi
Commenting on the successful UAE-Korea forum, Sheikh Sultan Bin Ahmed Al Qasimi said that all stake holders of the emirate and all sectors, including business, trade and investments have been involved and participated in the summit. He hoped that the third UAE-Korea forum will achieve the goals of strengthening the bonds of cooperation and relations between the two countries. 

He said, “We will continue to review and work with our Korean partners to identify all avenues and economic opportunities, creating a platform for cooperation between investors on both sides and encouraging investment opportunities in line with the emirate’s leading position in the promotion of economic cooperation among various countries of the world.”

Senior representatives and heads of government bodies and institutions, who have been part of Sharjah’s delegation to the Seoul forum, for their part underscored the importance of the emirate's presence in the UAE-Korea partnership summit and called for strengthening the Sharjah-South Korea economic and trade partnership and future relations between the two destinations.

Summit will build new tourism, economic partnerships: Noman
Emphasising Sharjah’s presence at the strategic UAE-Korea partnership summit, HE Mohamed Ali Al Noman, Chairman, Sharjah Commerce and Tourism Development Authority, expressed confidence that it will help the travel and tourism industry in the emirate, pointing out that Sharjah plays a prominent role as a commercial, tourism and industrial hub in the region and is set to further benefit with its new economic partnership with South Korea.

Al Noman said that Sharjah has earned itself a prominent position in the Asian tourism markets thanks to its infrastructure and high-end services and facilities offered to international visitors.  He said that the emirate has been experiencing a surge in number of tourists from Asian countries. The emirate received 227,554 Asian tourists last year, forming 13 per cent share of its tourism market.

He said that Sharjah has unveiled new initiatives targeting to attract more Asian tourists and investors, particularly from the Far East, which is home to some of the vibrant and growing economic markets.  It is necessary to organise and develop global initiatives such as the UAE-Korea Economic Forum to generate new opportunities for trade and economic partnership between the two countries seen as the rapidly growing tourism markets in the region.

Opportunities for foreign investors in healthcare sector: Mahyan
For his part, HE Abdulla Al Mahyan, Chairman, Sharjah Healthcare City, said that healthcare is a particularly a promising sector in Sharjah. “Despite the growing demand for healthcare services, only a few players operate across the sector’s value chain, meaning that opportunities abound for foreign players to make strategic investments and tap the potential of the undeveloped healthcare market. South Korea is not only a vibrant economy but also a strategic partner for the UAE in vital sectors, and our goal is to highlight the numerous healthcare investment opportunities available to South Korean investors attending this special event,” he pointed out.

The Sharjah Healthcare City (SHCC) will offer prospective investors i.e. individuals and companies across the globe an excellent investment opportunity in the field of healthcare and related fields under convenient free zone rules and regulations through single window service system, he said. He also added that the participation of the SHCC in the UAE-Korea forum will help those wishing to invest in the emirate - both individuals and institutions – offering them excellent opportunities and facilities to invest in the healthcare sector in accordance with the rules and the laws of the free zone through a single window system.

Summit to attract more Korean, Asian tourists, investors: Al Midfa
HE Khalid Jasim Al Midfa, Director General, Sharjah Commerce and Tourism Development Authority, said that Sharjah’s partnership in the UAE-Korea forum with the participation of more than 100 government bodies and departments, will help attract more tourists and investors from South Korea and Asia in general, strengthening relations and partnerships between destinations.
 
He said that thanks to its cultural diversity and unique approach to tourism, Sharjah enjoys a special place on the world tourism map and is rightly celebrated as the Capital of Arab Tourism and Home of Arab and Islamic Culture and Civilization thanks to its patronage of art, heritage, culture, knowledge and education. It is home to 18 museums, grand monuments and mosques, numerous art galleries, traditional souks and modern malls and some of the best universities and colleges in the Middle East. Besides the emirate is a leading hub of trade and commerce with world-class amenities, infrastructure and manufacturing sector. It is home to a modern international airport and owns the Middle East’s most popular low-cost airline Air Arabia. The traffic at Sharjah International Airport crossed 7.5 million passengers mark last year, registering 13.6 per cent growth, he pointed out.

Forum to help investments in Sharjah, local economy: Mahmoudi
HE Hussein Mohammed Al Mahmoudi, Director General, Sharjah of Commerce and Industry expressed confidence that the partnership with South Korea will help the emirate to consolidate the economic cooperation and open new areas of cooperation. “South Korea is a fast booming economy and has a global presence in several areas. And this partnership with the country will help attract fresh investments to the emirate which offers ideal investment environment and world-class facilities are provided to the business community in the emirate. The Seoul summit will thus help contribute to the development of South Korea’s trade with the UAE in general and Sharjah in particular.”
 
He said that already there are 16 South Korean companies based in Sharjah and there is scope to significantly boost this number in months to come. There are many areas of possible cooperation and to increase the volume of trade between the two sides. According to latest statistics, the total trade between Sharjah and South Korea during 2012 touched Dh800 million, he emphasised.

Al Mahmoudi said that the Seoul initiative would foster business relationship with private sector players in South Korea and help create an environment suitable for investments and exchange of constructive ideas in the field of trade and investment and to build successful partnership between the two sides.

Sharjah offers immense investment potential for South Korea: Sarkal
HE Marwan bin Jassim Al Sarkal, CEO, Sharjah Investment and Development Authority (Shurooq) said, “South Korea and the Emirates already have very strong and highly beneficial ties in place where economic and commercial relations witnessed an impressive development over the past 10 years, and we are looking to further strengthen these bonds, while actively engaging in our overall strategy of promoting Sharjah as a leading investment destination. Our focus in Seoul is on emphasising the numerous opportunities that Sharjah’s rapidly growing tourism sector, with its many world-class attractions, has to offer. In addition we are also working to attract inbound investment to the Emirate’s fast developing logistics, healthcare and environment sectors.”

In view of the major growth in economic cooperation between the UAE and South Korea, Sharjah has great opportunities to attract further South Korean and Asian investments into the emirate, taking into consideration Sharjah's potential investment opportunities and promising sectors as well as the Asian approach to enter the region.  

“The UAE is South Korea's largest export market in the Middle East, with trade between the two countries totalling $22 billion in 2011. South Korean business and investors have also long been pioneers in making use of the UAE’s ideal position as a regional hub and there are currently 300 Korean companies registered in the UAE and over 12,000 Korean residents in the Emirates. There has also been an increase in bilateral agreements and cooperation with South Korean firms playing key roles in the execution of a number of important UAE projects, ranging from infrastructure to nuclear power while UAE companies are also increasing their activities in South Korea,” emphasised Al Sarkal.

A window on Sharjah for Korean media: Samra
Commenting on the Sharjah Media Centre’s participation in the UAE-Korea forum, HE Osama Samra, Director of the centre said that the initiative is part of the plan to strengthen the emirate’s coverage and relations with local, regional and global media.  “This forum will help open a window to the Korean media on Sharjah, its profile and the numerous investment, economic and cultural opportunities and facilities provided by the emirate,” he emphasised. 

He said that the Sharjah Media Centre headed by HE Sheikh Sultan bin Ahmed Al Qasimi reached out to and connected with a number of Korean media players and organisations in order to introduce Sharjah and explore various areas of cooperation. He said: “The Sharjah Media Centre is committed to and looking to support the economic sector of the emirate.”

 

Sourced: TravelDailyNews

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