Abu dhabi: The Abu Dhabi Chamber of Commerce and Industry (ADCCI), in partnership with the Korea International Trade Association (KITA), hosted a business forum at Rixos Marina Hotel in Abu Dhabi titled 'Expanding Trade Horizons Between Abu Dhabi and Korea'. The forum aimed to create broader opportunities for shared trade and investment, coinciding with the continued growth in trade between the UAE and South Korea. Trade between the two nations increased by 11% compared to 2023, reaching AED84.7 billion ($23.1 billion) by the end of 2024, with non-oil trade alone witnessing a 42.5% growth.
According to Emirates News Agency, the forum brought together leading companies from the UAE and South Korea to strengthen economic relations and explore new collaboration opportunities. Discussions focused on the importance of private sector partnerships, knowledge exchange, and investment in driving economic progress. The Abu Dhabi Chamber emphasized the emirate's strategic location, advanced infrastructure, and investor-friendly environment, making it an attractive platform for Korean companies to engage in private sector opportunities and access both regional and global markets.
In 2024, UAE exports to South Korea saw a modest decline compared to 2023, yet the overall trade exchange between the two countries increased. Imports from South Korea rose by 14%, reaching AED18.7 billion ($5.1 billion). Abu Dhabi continues to establish itself as a preferred destination for Korean investment, with joint projects expanding across strategic sectors such as energy, advanced manufacturing, and technology. Korean companies are setting up operational bases in Abu Dhabi, benefiting from its modern infrastructure and flexible regulatory framework that supports ease of doing business and regional growth.
The UAE-Korea Comprehensive Economic Partnership Agreement (CEPA) is anticipated to further integrate Emirati suppliers into Korean value chains and open new pathways for strategic cooperation focused on innovation and joint investment. The Abu Dhabi Chamber registered an 11.1% increase in South Korean companies joining its membership in 2024 compared to 2023, highlighting Abu Dhabi's growing profile as a global business hub. Concurrently, Emirati companies actively operate in South Korea across more than eight key sectors, including retail, ICT, port operations, shipping and logistics, and advanced manufacturing.
Ali Mohamed Al Marzooqi, Director General of the Abu Dhabi Chamber, and Yoon Jin Sik, Chairman of KITA, emphasized the significance of deepening economic ties between Abu Dhabi and Korea. They pointed to innovation and diversification as crucial drivers for creating new opportunities for trade, investment, and sustainable private sector growth across regional and global markets. Al Marzooqi noted that uniting business communities reflects the Chamber's strategic commitment to enabling global partnerships that unlock growth, expand market access, and support the ambitions of the private sector.
With over 158,000 member companies, the Abu Dhabi Chamber serves as the collective voice of the emirate's private sector. It represents business interests, advocates for policies aligned with economic priorities, and works to enhance the competitiveness of Abu Dhabi's business ecosystem. Beyond policy advocacy, the Chamber provides a wide range of support services, including market intelligence, legal consultation, business advisory, and global networking platforms designed to help companies connect with partners and seize opportunities locally and worldwide.
Through its partnership with KITA, representing over 73,000 member companies, the Chamber is building a stronger bridge between the two business communities. This collaboration opens new avenues in investment and innovation, leveraging Abu Dhabi's promising economy and advancing the Chamber's roadmap to support diversification, global expansion, and excellence across the private sector. The forum featured panel discussions, dedicated one-to-one business meetings, and follow-up sessions to ensure dialogue translated into actionable outcomes, with networking opportunities enabling Emirati and Korean companies to explore joint ventures and new cooperation avenues. For Abu Dhabi businesses, the forum represents a gateway into one of Asia's most vibrant markets, reaffirming the Chamber's commitment to enabling its members to grow confidently and expand internationally.