Korea Federation of SMEs and UAE Ministry of Economy Collaborate on Smart Farm and Healthcare Technologies

by Kwak Minjae

Published 21 Apr.2022 14:21(KST)

Signing of Business Agreement and Meeting with UAE Ministry of Economy

Kim Ki-moon, Chairman of the Korea Federation of SMEs (second from the left), and Al Falasi, Minister of the UAE Ministry of SMEs, are taking a commemorative photo before the business agreement ceremony.
[Photo by Korea Federation of SMEs]

[Asia Economy Reporter Kwak Min-jae] The Korea Federation of Small and Medium Business (KSMB) announced on the 21st that it signed a memorandum of understanding (MOU) and held a meeting at the request of the Ministry of Economy of the United Arab Emirates (UAE).

At this event, Ahmad Belhoul Al Falasi, UAE Minister of the Ministry of Industry and Advanced Technology, participated and promised continuous cooperation between the two organizations. Through the MOU and meeting, the two organizations agreed to start technological cooperation in fields where the UAE has needs and Korean SMEs have technological strengths, such as smart farms and healthcare, and to expand cooperation into other industries in the future.

On the 21st, at the invitation of Abdullah Mohamed Al Mazrouei, Chairman of the Abu Dhabi Chamber of Commerce and Industry (also Chairman of the UAE Federation of Chambers of Commerce and Industry), an MOU was signed to strengthen private-sector cooperation between the two countries.

Kim Ki-moon, Chairman of KSMB, said, “The UAE is a forward base for entry into the Middle East and a global hub, having positively improved the investment environment for foreign companies by granting long-term residency permits to foreigners and easing equity restrictions. Going forward, KSMB will actively support the entry of SMEs through cooperation with the UAE government and private sector.”