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Press Release India Korea Business Meet 29 July 2021

Posted on: August 02, 2021 | Back | Print

Consulate General of India
Dubai

PRESS RELEASE
India Korea Business Meet on 29th July, 2021

Korean and Indian entrepreneurs and business leaders based in UAE, deliberated upon ways and means to further enhance mutual cooperation and collaboration, in the run up to Expo 2020 Dubai. This event was organized on 29th July, 2021 at the Indian Consulate.

The interactive meet was attended by Indian and Korean business professionals from the sectors of steel, construction, investments, supermarkets, healthcare, logistics, food distributors, personal care and business groups.

Expo 2020 Dubai will be the first major global event that will herald a post pandemic economic recovery which must be utilized to enable better collaboration between countries. The six-month duration of Expo 2020 will be a unique global platform for various countries to join hands and attract investments, forge agreements and promote international cooperation. Start-ups to multinationals must optimize on this opportunity to catalyse collaboration, stimulate innovation and create tangible opportunities in trade and investment.

H.E. Byung Jun Moon, Consul General of Republic of Korea during his address emphasized on the strong diplomatic relations between India and Korea. He stated that strengthening mutual relations between India and Korea will create new avenues for cooperation and will provide mutual benefits with additional growth. Consul General remarked that the India Korea Business Meet, which was attended by major companies from both sides, will be a head start to success and will pave way for many such events and opportunities in the future. 

In his address H.E. Dr. Aman Puri, Consul General of India spoke about India - Korea relations which have made great strides in recent years and have become truly multi-dimensional, spurred by a significant convergence of interests, mutual goodwill and high level of exchanges. In the last five years, the bilateral trade volume between India and Korea has constantly crossed USD 20 Billion, with a slight decline in 2020 to USD 17.5 Billion. He further stated that there are vast commercial opportunities for both the nations in the fields of shipbuilding, steel, nuclear energy, heavy electrical machinery, IT, space, defence and energy sectors. He also mentioned about the initiative ‘Korea Plus’ proposed by Prime Minister Shri Narendra Modi in June 2016 in India to promote and facilitate Korean Investments in India.

Private sector has to drive economic recovery and Governments must do everything in their capacity to facilitate and catalyze much needed economic growth for the welfare of their citizens. In this context, the interactive meet enabled the key businesses in certain sectors to deliberate and discuss the ways and means to explore further opportunities for collaboration between Korean and Indian companies based in UAE. Special emphasis was laid on ensuring optimal utilization of the global platform for business development and growth.

Indian Business Promotion Council, Confederation of Indian Industries,  Institute of Chartered Accountants of India, KEF Holdings, Lulu Group, VPS Healthcare, Larsen & Toubro Ltd., Al Adil, Nikai Group of Co., Arab India Spices, Ajmal Perfumes, New India Insurance, Zepth Tech & Design and Oriental Insurance, represented Indian side in the event.

Korea International Trade Association, Korea Trade-Investment Promotion Agency, Korea Business Development Center, GS Global Corp., POSCO International, STX Middle East FZE, LX International Corp. were some of the major organizations and companies from Korean side in the event. Apart from Indian and Korean businesses, DP World Group also marked their presence to support the event.

Consulate General of India, Dubai would be organizing several such events in the run up to EXPO 2020 to ensure that Indian companies participating at the mega event are able to engage productively with their global counterparts during B2B meetings in a more effective manner.

29 July 2021
Dubai

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