Page 718 - MOE ENGLISH PR REPORT - DECEMBER 2024

1/2/25, 5:12 PM UAE-Korea SME Committee holds first meeting to enhance partnerships in entrepreneurship, startups and innovation between t…
pursue entrepreneurship. The fund also aims to foster an entrepreneurial mindset and culture, as well as create a unified national platform
that coordinates the ecosystem's efforts and accomplishments.
H.E. Oh Youngju Minister of SMEs and Startups, said: 'We are delighted by the visit of H.E. Alia Mazrouei in Korea, accompanied by a large
UAE delegation, to participate in the inaugural Korea-UAE Joint Committee on SMEs and Startups. This is a valuable opportunity to enhance
the economic ties between our two countries in the next stage.'

'We will build on our cooperation through this Committee to develop innovative approaches in the SMEs sector, promote creativity and
innovation, broaden the international market, and work towards achieving common objectives for SMEs and startup growth in both countries,'
H.E. added.
The meeting discussed ways to strengthen collaboration to exchange knowledge and expertise on the role of business environment in
facilitating the establishment of startups, in addition to related policies and regulations. Furthermore, the two sides explored opportunities for
collaboration to develop new initiatives to accelerate SMEs' growth in both markets. These efforts will enhance their investments and facilitate
their exports, enabling access to new markets.

The UAE-Korea SMEs Committee meeting was held by virtue of a memorandum of understanding (MoU) signed by the Ministry of Economy
and the Ministry of SMEs and Startups of the Republic of Korea in May. The MoU established the Committee, laying down a practical
framework for strengthening bilateral relations in the entrepreneurship and investment fields.

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