27/10/2014
Kicks off in Seoul Wednesday with a number of ministries , agencies and financial institutions
Forum brings together business owners and major companies and factories from Saudi Arabia and Korean
The Korean Business Forum and exhibition, Wednesday for three days in South Korea's capital Seoul, with a view to strengthening and enhancing cooperation in all areas between the two countries and encourage more agreements, understanding and active participation in the economic and commercial initiatives. The Forum brings together a number of investors and business owners and large companies and factories amid expectations that the event contributes to the shift in the balance of trade between the two countries. The Conference is sponsored by trade and Industry Minister Dr. Tawfig Alrabiah, involving a number of ministries and agencies, financial institutions, trade associations, industry, agriculture and business associations from both sides, and a number of investors and business owners and large companies and factories.
Meanwhile, the President of the Council of Saudi Chambers, Dr. Abdul Rahman Al-Zamil, as Saudi-Korean business forum which kicks off on Wednesday, acquired great importance under the transformations and rapid developments in the region.Al Zamil reviewed the friendship and evolving and policy convergence and integration between the two countries, which enabled them to draw a road map with specifications to suit both sides, the two countries have helped to build a strong partnership of sophisticated business relationships over the long term has arrived with the trade volume between the two countries in the year to 45.1 billion dollars, of which 35.6 billion dollars exports to Korea, and 9.5 billion dollars on imports, with the balance of trade tilted in favor of the Kingdom.
In turn, the Saudi Ambassador to Korea Ahmed Albarak said the Organization of the Ministry of trade and industry forum, comes with Saudi export development ' Saudi exports ' and the Council of Saudi Chambers, referring to the Forum also enjoyed the participation of a number of ministries and agencies, financial institutions, trade associations, industry, agriculture and business associations of the parties, which is scheduled to hold bilateral working meetings and workshops on the sidelines of the Forum. It is the desire of the Republic of Korea South through initiatives to convene the Forum and Web hosting work to confirm its desire to promote the culture of dialogue and take further measures to liberalize trade and the development of relations in the fields of trade and investment and increase trade between the two countries and discussed obstacles to the development of economic relations between the two countries through the axes of the Forum.
The ' the Korean economy ranked 12 globally, with the country's Government is planning to take its fifth place globally and achieving the $ 2 trillion worth of international trade by the year 2020, noting that the quality of the products the secret of the success of Korean companies turned to conviction and satisfaction and global demand for Korean products. The Kingdom is one of the most important trade partners of Presidents with the Republic of Korea, as it comes in fourth place, the Republic of Korea is the fifth largest trade partner of Saudi Arabia, where the last period saw the signing of an agreement for cooperation in the peaceful uses of nuclear energy and research and development of specialized human resources, and in the past has also signed cooperation agreements in the field of health and include operational program between the ministries of health of the two countries to cooperate in the field of public health care and medical science, and a cooperation agreement in the field of maritime transport.
