Dubai Customs receives a delegation from Korea Customs Service to discuss collaboration and bilateral trade

Dubai-Korea trade worth AED 33 billion

Dubai UAE, December 21, 2015:  Dubai Customs boosted its efforts in enhancing economic ties between the United Arab Emirates and the Republic of South Korea. H.E. Ahmed Mahboob Musabih, Dubai Customs Director received a high profile delegation representing Korea Customs Service  headed by Lee Jong-Woo, Director of Audit and Policy Division. Faisal Issa Lutfi, Director of Dubai Customs External Relations and the CEO of Dubai Customs World and Eman Badr Al Suwaidi, Director of Customs Declaration Department attended the meeting. While on the Korean side, Woo Lee-Kwang, Head of AEO Center, Jin-Kyung Yoon, Program Manager of the AEO Center and Hyung-Kwon Choi from the Audit Policy Division. 

Ahmed Mahboob Musabih welcomed the visiting delegation, expressing Dubai Customs keenness on deepening ties between the two parties. Dubai non-oil trade with the Republic of Korea mounted to AED 33.1 billion in 2014 compared to AED 26.8 billion in 2013, scoring a growth rate of 23%. Dubai trade with the Republic of Korea in H1 2015 came close to AED 15 billion, divided upon AED 13.5 billion in imports, AED 818 million in exports and AED 216 million in re-export. 

Ahmed Mahboob Musabih stated that, “Our bilateral cooperation supports the implementation of the agreement on mutual administrative assistance in customs matters recently inked in March 2015 between the UAE and the Republic of Korea governments. We seek to provide best custom services and facilitations for Korean companies and traders, in pursuance of the directives of H.H. Sheikh Mohammad bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai, dictating the bridging of bonds with all countries around the globe and setting Dubai as the number one international trading hub.” 
Musabih also noted, “ We seek to increase the capacities of UAE-based business community, by granting them greater access to the Korean markets, which comes in line with our efforts to achieve the strategic goals of our nation including UAE Vision 2021 and Dubai Plan 2021.” 

The Korea Customs Service delegation hailed the increasing economic growth in the UAE in general and in Dubai in particular, stressing upon the need for further consolidated relations. Both parties discussed prospects of cooperation to best utilize the Authorized Economic Operator (AEO) program launched by Dubai Customs in September 2015, which largely contributes to the establishment of strategic partnerships ensuring the protection and facilitation of global trade via Mutual Recognition Agreements (MRA’s)  between countries and supply chains across the world, as per the  the World Customs Organisation WCO SAFE  Framework of Standards to Secure and Facilitate Global Trade (SAFE Framework).

During the meeting, Eman Badr Al Suwaidi delivered a presentation to the visiting counterparts on the facilitations and privileges Dubai Customs is catering for eligible clients from the trading community through the AEO program. “AEOs will benefit from simplified customs procedures, including pre-arrival shipment clearance, preferential customs treatment, and customs advice upon request,” she said. Al Suwaidi also highlighted that the run of the AEO would commence in a pilot phase comprising finely selected clients, and that eligibility would be based on meeting , among other things, appropriate compliance levels.
As the World Expo 2020 in Dubai draws closer, the adoption and implementation of the AEO program, in cooperation with Korean Customs and other partner Customs authorities worldwide, is expected to further enhance the position of Dubai as a leading global hub of trade and business.