Young Arab Leaders host South Korean delegation from Busan City

The delegation was received by Mohammad Khammas, Vice Chairman of the YAL UAE Chapter and Chief Executive Officer of Al Ahli Group.

The talks between YAL UAE members and the Korean delegation focused on establishing collaborations in various sectors, including finance, investments, governance, media, ICT and education.

The Korean delegation also met with key business figures including H.E. Dr. Omar Bin Sulaiman, Chairman of the Board of Directors of YAL and Governor of the Dubai International Financial (DIFC), Abdullatif Al Mulla, CEO of TECOM Investments, and Dr. Yasar Jarrar, the Executive Dean of the Dubai School of Government and Strategy.

Khammas highlighted the pioneering role of Young Arab Leaders in creating opportunities for the Arab youth in education, leadership development and entrepreneurship, while bridging the communication gap between Arabs and the rest of the world.

He said: "South Korea and the UAE are both located at areas of strategic importance in their respective regions. While Korea is known as the leading economic hub for Northeast Asia, the UAE is regarded the gateway to the Middle East and North Africa (MENA) region. The strengthening of bilateral trade ties will effect a tremendous synergy, offering greater access to new markets."

"Understanding the Dubai experience and its success as envisioned by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, allows our strategic partners and allies to gain an insight into the emirate's dynamic growth curve. Dubai's multi faceted economic strategy in areas such as finance, entertainment, tourism, and industry also offer unlimited potential for cooperation between the two for the benefit of both regions."

The UAE is South Korea's second largest oil supplier and a major trading partner in the Middle East. Total trade between the two countries has doubled in three years, reaching $15.8bn in 2006.

H.E Hur Nam Sik said: "YAL has demonstrated its commitment to building a long term relationship with South Korea. It has also offered us fresh and invigorating perspectives of Dubai, giving us a better understanding of the emirate and the region's diverse value propositions."

"Young leaders are assets of huge significance in any country and establishing a platform such as the YAL illustrates the strong visionary policies of Dubai and the UAE. Dubai will unleash its future potential through these far sighted young leaders."

The Korean delegation registered high interest in YAL UAE's efforts to generate a significant impact on Dubai's economy. In addition, the delegates were also eager to learn about various strategic initiatives and landmark events hosted by Dubai.

Young Arab Leaders (YAL) is an independent pan-Arab organization that aims to create a new generation of young leaders capable of actively participating in the region's development process and driving it into a new phase of growth. It is a network of the region's leaders from the business community, politics, academia, media, arts, culture and civil society, who are committed to improving the Arab world's status.