Dubai: The Sharjah Economic Development Department (SEDD) and the Small and Medium Business Corporation, a Korean government agency, on Monday renewed a Memorandum of Understanding (MoU) to enhance cooperation between the two sides.
The renewal was signed during a visit by a Korean delegation to the UAE. The delegation is headed by South Korean President Moon Jae-in, who is in the UAE to discuss boosting partnership between the two countries.
Under the articles of the MoU, the two parties aim to achieve goals that include cooperation in supporting industries and opening up joint markets in South Korea and Sharjah, exchanging foreign trade information, and participating in economic and commercial activities. Goals also include organising mutual events and exchanging visits.
The memorandum also states the importance of supporting the exports of each side, and agreeing on a mechanism to exchange experiences between the exporters in Sharjah and South Korea.
Sultan Abdullah Al Suwaidi, SEDD chairman, said in a statement that the renewal of the deal is a confirmation of the cooperation between the two sides in line with goals to strengthen economic ties between Sharjah and South Korea.
SEDD stated it is eyeing enhanced cooperation with South Korea in other sectors including the small and medium enterprise (SME) industry.
