Sharjah24: Sharjah Economic Development Department (SEDD) received a delegation from Korea SMEs and Startups Agency (KOSME). the meeting aimed at discussing ways to develop economic cooperation and trade exchange relations between the two countries, and investment areas and opportunities available to both sides. This fall with SEDD’s strategic plans to strengthen cooperation with various partners and stakeholders in various countries of the world, with the aim of improving the economic and investment process in the emirate.

The delegation was received by HE Hamad Ali Abdalla Al Mahmoud, SEDD Chairman, Abdelaziz Omar Al Midfa, Deputy Director of Government Communication Department, and Dr. Amr Saleh, Economic Advisor at SEDD. From their side, the Korean delegation included Mr. Han Lo Ji, Director General of Korea SMEs and Startups Agency (KOSME) office in the country, and Ms. Yunho Shin, Acting Director of Government Relations from (KOSME). 

The meeting discussed ways to improve cooperation between (KOSME) and (SEDD), enhance economic partnership and the prospects for its support and development, in a way that serves the business environment between the two countries. In addition, it dealt with exchanging views on a number of economic developments of common interest, and working to stimulate investments in various sectors, most notably innovation and modern technology.

Commenting on that, HE SEDD Chairman, pointed out that he is pleased with the results of the “Economic and Technical Cooperation Program” between the two sides to support national and emerging projects with economic advantage in Sharjah. He carried on that such program dealt with providing technical and administrative support to number of projects. He added that the Agency, alongside with the Department, held a number of field and analytical meetings for some national and international companies in Sharjah, with a successful evaluation of technical and technical support for projects and support for commercial and industrial exchange between Sharjah and Korea.

His Excellency explained that the Department is ready to work in a new project with the Agency to diversify economic sectors, not only in metal working activities, wood industries, sponge industries, plastic industries, and industries feeding contracting activity, but also in the sectors of innovation, and transfer of modern technology.

For his part, Mr. Han Lo Ji, Director General of Korea SMEs and Startups Agency (KOSME) office in the country, said during the meeting that (KOSME) is pleased with this cooperation, which is considered one of its most successful experiences with UAE and the Agency since its establishment in 1979 by the Republic of Korea to support about 3 million SMEs in Korea. These SMEs included cooperating with Indonesia, Philippines, Malaysia, Russia, China, and the countries of Chile and Peru in Latin America to develop trade exchange between Croatia and its trading partners.

Likely, Abdelaziz Omar Al Midfa, Deputy Director of Government Communication Department at SEDD, said that the existing cooperation between the two sides has greatly helped in enhancing trade. It also contributed to attracting investors from the Republic of Korea to Sharjah, which will lead to the development of the economic and tourism aspect in the emirate. Additionally, Al Midfa pointed out that this cooperation is considered a major attraction for the business sector, as working to develop the emirate’s economy is considered one of the Department’s main tasks to achieve economic well-being and achieve sustainable development, in addition to discussing ways to review the opportunities available to increase trade and investment exchanges between them, especially in the sectors related to innovation and SMEs, which is one of the most prominent sectors of common interest between the two countries.