Dubai Chamber of Commerce & Industry calls for the establishment of a Korean Business Council

This comes within the framework of consolidating the relations with the Korean companies, whose activities occupy a wide section of the business map in Dubai and the UAE.

Al Tayer said: "Our main and great interest is directed towards South Korea, and we hope to create common opportunities for cooperation and development in this region in the near future."

The delegation comprised of Mr. Jun, Yong-Won, Mr. Park, Sang-Hee members of National Assembly, Mr. Yong, Sang-Won the secretariat Director of the Assembly, San, Mr. Dgo, Hong-Go, the Consul of Embassy and H.E. Mr. Yong-Kang the Ambassador of Korean Republic in U.A.E. The visit which lasted for two days, and covered Dubai and Abu Dhabi, aimed at consolidating the bilateral relations between South Korea and the UAE.

Both Abdul Rahman Ghanim Al Mutaiwee, Director General of Dubai Chamber of Commerce & Industry and Fahad Al-Gergawi, Director of Trade & Business Development of the Chamber attended the meeting.

During discussions, the President of the Chamber suggested forming a common committee composed of businessmen from South Korea and Dubai, and nominated the Chamber's Director of Trade & Business Development to hold coordination meetings with the Korean Embassy in order to take the necessary steps to form the Korean Business Council and the common committee.

Al Tayer assured that Dubai has developed itself to be a free zone area, and that it plays an important role in serving trade and economy in the region. He pointed out the investment opportunities, advanced services and distinguished infrastructure Dubai enjoys, in addition to the several free zone areas like Internet City, Media City, Knowledge Village and the Oasis Project, amongst others.

He said that DCCI is happy to provide its services and expertise to Korean companies and businessmen, as well as to receive Korean delegations and trade missions. He also expressed his hope that this visit will lead to further business meetings in order to create many ideas and common work plans.

Al Tayer remarked on the Korean experiment in taking care of the small and medium scale companies and said: "We wish to benefit from your experiences in this field of activities".

From his side, Jun, Yong-Won indicated that his government helps the small and medium scale (2.8 million) companies and provides them with proper subsidies, and continued to clarify that the large volume companies are affiliating with the Korean Chamber of Commerce, whereas the small and medium scale companies are affiliating to a private center.

Park, Sang-Hee spoke lengthily about the small and medium scale companies in South Korea according to his actual and long parliament experience in that respect, as he was assigned the presidency of Korean Union for small businesses for two progressive sessions, and demonstrated an organizational and structural comparison between the experiments of South Korea and Dubai in this regard.

The DCCI's President commented saying: "The small and medium scale companies will be very important for us in the future and I believe that there are VIPs at your office whom are able to coordinate with their counterparts at our office to promote the cooperation in this respect, and overcome any potential difficulties.

Discussions also touched on the Iraqi subject, as DCCI's President said that most of the projects to rebuild Iraq will be launched from Dubai, and added: "In our estimation, during the next five years, the sum of $25 billion will be spent to install the basic structure."