Dubai – Mubasher: The Dubai Airport Free Zone (DAFZA) has signed a strategic agreement with the Daegu-Gyeongbuk Free Economic Zone (DGFEZ) to reinforce bilateral trade and relations between the UAE and South Korea.
Upon the agreement, both parties will collaborate to boost mutually beneficial investments, exchange information and expertise on markets and trade, DAFZA said in a statement.
The agreement was signed by the director general of DAFZA Mohammad Al Zarooni and DGFEZ’s commissioner In-Seon Lee in Daegu-Gyeongbuk, South Korea.
The agreement will also cover coordination between both authorities in the fields of technology, innovation, cross-border e-commerce, shipping, and logistics, according to the statement.
As per the agreement, DGFEZ will encourage South Korean investors to establish their businesses in DAFZA, while DAFZA will provide offers and incentives to firms DGFEZA refers and encourage Dubai investors to pump investments into joint Korea-Dubai ventures.
DAFZA and DGFEZ will organize further meetings to mainly focus on the mutual economic policies and trade consulting services.
