DUBAI: Director General of Dubai Customs Ahmed Mahboob Musabih hosted a virtual business meeting to discuss strengthening trade cooperation and links with South Korea.
South Korean Consul General Moon Byung-Jun and members of the South Korean Business Council in Dubai joined Musabih at the meeting.
Executive Director for Customs Inspection Dr. Abdullah Busanad and a number of senior officers and heads of departments from Dubai Customs also attended the meeting.
The meeting, under the Ertebaat initiative, covered opportunities to boost economic cooperation between South Korea and the UAE.
Musabih emphasized the importance of working with South Korean diplomatic missions and businesses to support mutual trade by providing high-quality services and facilities to clients and partners.
“It’s very important for us to boost ties of partnership with our friends in the South Korean business councils and corporates,” said Musabih, underlining that the growing bilateral ties between the UAE and Korea drive more business cooperation and partnership, capitalizing on the recent economic and trade agreements signed between the two countries.
Musabih added: “Ties with our partners are gaining more weight and momentum, and we are working hard at Dubai Customs to develop our initiatives for a better delivery of services and products.
“The UAE - South Korea’s growing trade cooperation has led to the signing a mutual recognition agreement for the implementation of the Authorized Economic Operator (AEO) program, which supports a rise in mutual trade taking advantage of the facilities and incentives offered to traders and businesses certified as trusted AEOs in both countries.
“The UAE has already 107 companies joining the local AEO program.”
Musabih stated that the authority processed 12.7 million customs transactions in the first half of 2022, compared to 24 million completed in 2021.
“We continuously develop our business operating models to support our partners’ trade activities and reduce the cost of their operations. Any success we make is also a success to our partners. With this vision always in mind, we achieved 98 percent on the customer happiness index,” he said.
Byung-Jun thanked Dubai Customs for their unwavering commitment to providing seamless services and facilities to South Korean businesses, as well as to strengthening collaboration with South Korean diplomatic and business representative bodies.
“This, besides serving the interests of both parties, also fosters a favourable environment for easing trade and investment activity between India and the UAE through expanding economic and investment possibilities and enabling South Korean traders to enhance their operations in the region without any hassle,” Byung-Jun said.
Presentations on the Authorized Economic Operator, the Cross Border e-Commerce Platform, and the World Logistics Passport were given during the meeting, emphasizing the significant added-value benefits that these initiatives bring to trade facilitation and overall business empowerment.