Wednesday, 23 May 2012
DOHA: Korea and Qatar yesterday marked a new chapter in trade relations with the official launch of Korea business centre in Doha during a ceremony held at Sharq Village and Spa.
The Korean Trade and Investment Promotion Agency Doha is the 112th office of KOTRA, a national trade promotion organization which is celebrating its 50th anniversary. The opening of the business centre came as a follow up step to the meeting of Qatari and Korean leaders in Doha last February which discussed ways the two countries could advance their bilateral business and trade relations.
Hailing Qatar and Korea's decades-long ties, Oh Young Ho, President & CEO of KOTRA said Qatar currently performs a big role in global innovation and Korea can contribute in various fields as in Qatar's move towards prosperity.
"I have every confidence that the Korea Business Center in Doha will contribute significantly to the co-prosperity of our countries," he said.
Running a global network in 77 countries, KOTRA is expected to act as a business bridge between Qatar and Korea. Established in 1962, it has been facilitating and contributing to Korea's trade and investment through its various trade promotion activities overseas, most prominent of which is business matchmaking.
Hung Sukwoo, Minister of Knowledge Economy, said the establishment of the business centre is set to bring the two countries even closer through creating synergy in many fields.
He outlines Korea's economic growth becoming the ninth country to cross $1 trillion in trade volume last year and having pledged $15bn, the third highest contribution among the G-20 countries for the IMF's new fund for the eurozone debt crisis firewall.
"The Middle East wrote its own chapter in development with its rich resources and financial strength," he said adding all eyes are set on Qatar as it prepares to host World Cup 2022.
As a first step to foster the Korean-Qatari business relations, and to mark the opening of its Doha office, KOTRA had coordinated with a large number of business delegates from prominent Korean companies to come to Doha for the Arab-Korea Business Forum.
"This forum will set a new direction to further improve our relationship in the next years," said H E Mohammed bin Ahmed bin Towar Al Kuwari, Vice Chairman of Qatar Chamber of Commerce and Industry. Over 150 businessmen form 10 countries attended the forum which was sponsored by Qatar's Ministry of Business and Trade and the QCCI.
The Korean delegation included representatives of top companies in various business fields such engineering and construction, IT and energy among others.
Caravan, a Korean company specialized in manufacturing prefab houses, providing the UN with $100mn worth of prefab houses per year, signed an MOU with a local company to construct dormitories for foreign workers.
Samsung, the IT technology provider for the Korea World Cup 2002, offered their latest technology for the Qatar World Cup 2022, as well as STX, owner of the world's fourth largest shipbuilder, whose chairman proposed their idea, for Qatar 2022, of building a huge floating stadium and hotel.
© The Peninsula 2012
