Martial Arts, 'Han-UAE Business Dialogue' Held

[Asia Economy Reporter Hwang Yoon-joo] The Korea International Trade Association (KITA) jointly held the 'Korea-UAE Business Dialogue' via video conference on the 25th with the UAE Federal Chamber of Commerce and Industry.

This event is the first joint event held after KITA and the UAE Federal Chamber signed an MOU on economic and trade cooperation between the two countries on October 27, and is a private sector economic exchange event linked to the '2020 Korea Excellent Products Exhibition (G-Fair) Dubai,' held for three days from the 24th in Dubai and Seoul.

Chairman Kim Young-joo said in his opening remarks, "The UAE is an attractive partner and close friend with high growth potential and abundant natural resources, and we are closely cooperating in various fields," adding, "This year marks the 40th anniversary of diplomatic relations between the two countries, and I hope that through various cooperation channels such as the Business Dialogue, the areas of cooperation between the two countries will become broader and deeper."

During the presentations and discussion sessions under the theme 'Post-COVID-19, Turning Crisis into Opportunity,' businesspeople and experts from both countries exchanged views on the future business paradigm changes brought by artificial intelligence (AI), cooperation tasks between the two countries, the current status of Korea's pharmaceutical and bio industries, and Korea-UAE technological cooperation.

Yoo Tae-jun, CEO of MindsLab, a comprehensive AI service company, said, "The UAE is a leading AI country with great interest in research, education, and policy linkage for fostering the AI industry," and added, "I hope that cooperation in the AI field between the two countries will accelerate in the future."

Heo Kyung-hwa, CEO of the Korea Innovative Medicines Consortium, said, "Although the situation is difficult due to COVID-19, it is precisely at times like this that a new framework for sustainable development of the pharmaceutical and bio industries is needed," and added, "I look forward to the activation of global open innovation for joint research and development and technological cooperation between companies of the two countries."

Cho Hak-hee, Director of the International Business Division at KITA, said, "Last year, the association signed a business agreement with the Dubai Future Foundation (DFF) and established a Korea Center in Dubai to support the entry of promising Korean startups into the Middle East," adding, "We will expand cooperation not only in traditional fields such as energy, construction, and infrastructure but also comprehensively in areas such as AI and bio."

This content was produced with the assistance of AI translation services.