ABU DHABI, UAE- Korean companies are responding very positively to the first-ever 'Made in Korea' (MIK) 2012 exhibition set to take place from May 21 to 23 in Abu Dhabi. The Korean Government has been playing a huge role in drawing local businesses to the event, which aims to reinforce trade, commercial and cultural ties between Korea and the UAE. The Korean Trade Investment Promotion Agency (KOTRA) alone is facilitating the participation of minimum 100 companies to the expo by itself, with two months left to go before the event kicks off.
The robust commercial partnerships between South Korea and the UAE exemplify rapidly evolving trade and investment relations across Asia and the Middle East. South Korea is involved in several key projects in the UAE in fields ranging from nuclear energy to infrastructure, while the UAE is beefing up its business presence in Korea via ventures aimed at meeting domestic energy and maritime needs.
Reflecting their surging economic ties, the two countries recently signed a 30-year 2 billion USD agreement for two Korean companies to develop three oilfields in Abu Dhabi. The UAE is already Korea's top export market in the Middle East and the fourth-largest supplier of crude oil to Korea. Construction and development is also a key collaborative area: According to a recent research conducted by Standard Chartered, Korean companies are believed to be involved in bids for about 18.3 billion USD worth of projects in the pipeline in 2012.
"For the past 10 years Korea and the UAE have successfully transitioned to more strategic commercial and economic relationships. Korean companies are responding favorably to MIK 2012 because they see this event as a catalyst for further consolidating business and investment between the two countries. We appreciate the Korean Government's support for MIK as a unifying platform not only for growing our business but celebrating our extraordinary friendship as well," said Faisal Al Raisi, Director of Ideal Idea Events Management LLC, organizers of Made in Korea 2012.
To be held with the full support of the UAE Ministry of Foreign Trade and the Abu Dhabi Tourism Authority, MIK 2012 will gather more than 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.
MIK 2012 is expected to welcome over 25,000 visitors to 14,000 sq. m of prime exhibition space and a conference agenda featuring prominent international speakers. On the lighter side, the expo will also include various cultural activities such as taekwondo exhibitions and musical performances by famous Korean artists as well as poster and costume designing contests.
