The Dubai Airport Freezone Authority, DAFZA, one of the UAE’s leading free zones, has signed a Memorandum of Understanding (MoU) with the Daegu-Gyeongbuk Free Economic Zone Authority, DGFEZA, in South Korea, according to WAM.
The partnerships aims to increase collaboration between the two parties and expand bilateral trade between the free zones.
Mohammed Al Zarooni, Director-General of DAFZA, and Inseon Lee, Commissioner of DGFEZA attended the signing of the MoU.
The partnership between DAFZA and DGFEZA focuses on promoting beneficial investments and to increase levels of knowledge transfer and information sharing on markets and trade.
It will also aims to increase cooperation in information technology, innovation, shipping and logistics and cross-border e-commerce.
Al Zarooni, Director-General of DAFZA, said: "The UAE and South Korea have strong economic and social ties and we believe this partnership will help strengthen the bonds that unite our two nations.
“We will support South Korean companies interested in Dubai to set up operations and advise them on market conditions and opportunities.
“Ultimately, this will support Dubai’s long-term vision of creating sustainable economic development, a diversified and balanced economy as well as increased foreign investment from key international markets."
Read more: EMLC to Open AI Leadership Lab in Dubai