10 Days to Qatar World Cup... KOTRA, aT, and Others Boost Exports to the Middle East

KOTRA to Host 'K-Consumer Goods Export Fair' in Dubai on 8-9
Aiming to Seize Middle East Economic Growth and 'World Cup Boom' Opportunities

Exterior view of Burj Al Arab Hotel in Dubai, United Arab Emirates (UAE). (Photo by Asia Economy DB)

[Asia Economy Reporter Moon Chaeseok] With the opening of the 2022 FIFA Qatar World Cup just ten days away, KOTRA has actively stepped up to support the export of Korean consumer goods.

On the 10th, KOTRA announced that it held the 'K-Consumer Goods Export Fair' in Dubai, United Arab Emirates (UAE), on the 8th and 9th (local time) in collaboration with the Korea Agro-Fisheries & Food Trade Corporation (aT) and the Korea Health Industry Development Institute (KHIDI).

According to the International Monetary Fund (IMF)'s quarterly global economic growth forecast, the Middle East region is expected to grow by 5.6% this year and 3.2% next year, which is relatively high. Dubai is also benefiting from a tourism boom thanks to the World Cup opening on the 20th.

Through the event, KOTRA promoted online and offline export consultations, distribution network pop-up stores, and K-Studio influencer marketing to help Korean companies enter the Middle East with Dubai as their base.

At the offline consultation, 60 small and medium-sized enterprises (SMEs) in the beauty, food, and innovative consumer goods sectors held discussions with 150 buyers from the UAE, Saudi Arabia, Turkey, Kuwait, and other countries, raising expectations for export contracts. By the end of this month, about 200 online consultations with buyers from the Middle East, Africa, and the Commonwealth of Independent States (CIS) region are also planned.

In collaboration with Sharaf DG, the largest electronics distribution network in the UAE, and K-beauty specialized distribution networks Shofon.com and Dilly Dilly, an offline pop-up store was opened for about 500 visitors. The pop-up store event generated export results worth approximately $60,000 (about 80 million KRW), including 28 domestic companies with no prior export performance to the Middle East.

Since the export support project linked to the Dubai World Expo earlier this year, Company N, which has been continuously targeting the Middle Eastern market, participated in the promotional event and entered Sharaf DG stores and Amazon Middle East. It is expected to generate annual sales of $200,000 (about 270 million KRW). A representative of Company N said, "Dubai is not only the center of consumer trends in the Middle East but also the heart of the Korean Wave. We expect Korean products to be widely promoted in other Middle Eastern regions through the World Cup and this business."

A Sharaf DG representative said, "Korea's innovative electronic products continue to gain popularity among UAE consumers," adding, "We will work closely with KOTRA to take the lead in promoting innovative K-consumer goods."

Yang Gimo, head of KOTRA's Middle East regional office, said, "Dubai is the closest to Qatar and boasts excellent tourism infrastructure, fully enjoying the special demand from the World Cup," and added, "We will actively promote the 'Export Plus' project to connect the increased interest of Middle Eastern consumers in K-consumer goods, boosted by the Korean Wave, to actual exports."

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