Korea Federation of SMEs and Dubai Chamber Join Hands to Boost Bilateral Business Cooperation

Korea Federation of SMEs Holds '2023 Baekdu Forum' in Dubai

The Korea Federation of Small and Medium Business (Chairman Kim Ki-moon) announced on the 7th that it held the '2023 Baekdu Forum' at the 13th-floor conference hall of the Dubai Chamber of Commerce. Now in its 14th edition, the Baekdu Forum is a global forum for small and medium-sized enterprise (SME) representatives, held in key countries where SMEs are expanding overseas to build international networks.

This year, it was held in Dubai, United Arab Emirates (UAE), where the Korea Federation of Small and Medium Business signed a 'Memorandum of Understanding to Promote Cooperation between Korean and UAE Companies' with the Dubai Chamber of Commerce (Dubai Chamber), agreeing to support the activation of business between the two countries. Co-hosted with the Dubai Chamber, the forum was attended by over 50 key figures including chairpersons of Korean industry-specific SME cooperatives, Kang Seok-hoon, President of the Korea Development Bank, Ryu Je-seung, Ambassador to the UAE, and Moon Byung-jun, Consul General in Dubai. From the UAE side, over 70 UAE businesspeople interested in cooperation with Korea, including Faisal Juma Khalfan Belhoul, Senior Vice Chairman of the Dubai Chamber, participated, totaling more than 120 attendees.

(From the fourth on the left) Kang Seok-hoon, President of the Korea Development Bank, Ryu Je-seung, Ambassador to the United Arab Emirates, Kim Ki-moon, Chairman of the Korea Federation of SMEs, and Faisal Juma Kalfan Belhol, Senior Vice Chairman of the Dubai Chamber of Commerce, are taking a commemorative photo at the '2023 Baekdu Forum'.

The theme of this forum was selected as 'Cooperation Tasks between Korean and UAE Companies.' Yang Ki-mo, Head of KOTRA Middle East Regional Headquarters, who gave the first presentation, spoke on 'UAE Market Trends and Opportunity Factors,' covering essential information for entering the UAE market. Following this, the Dubai Chamber and the UAE Ministry of Economy gave presentations on 'Mutual Cooperation Measures for Korean-UAE SMEs' and 'Investment Environment in the UAE,' respectively. Lastly, representing Korean SMEs in popular Middle Eastern sectors such as smart farms, pharmaceuticals, and medical devices, Kim Shin-gil, Chairman of the Korea Agricultural Machinery Industry Cooperative, Cho Yong-jun, Chairman of the Korea Pharmaceutical Cooperative, and Cho Nam-kwon, Executive Director of the Korea Medical Device Industry Cooperative, introduced the current status of their industries and proposed directions for cooperation with UAE companies.

Kim Ki-moon, Chairman of the Korea Federation of Small and Medium Business, stated, "The global economy is rapidly changing due to protectionism and the restructuring of global supply chains," adding, "As solidarity and cooperation among allied companies have become a necessity rather than a choice, I hope this forum will serve as an opportunity to expand business cooperation."

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