KITA supports Korean consumer goods firms' foray into UAE, Morocco
Korea International Trade Association (KITA) Executive Vice President Lee In-ho, left, poses with Dubai Economic Development Corporation CEO Hadi Badri during a KITA delegation's visit to Dubai, in this handout photo released Thursday. The delegation visited the United Arab Emirates and Morocco from Monday to Thursday to explore local market opportunities for Korean consumer goods companies. Courtesy of KITA
The Korea International Trade Association (KITA) said Thursday it dispatched a delegation of Korean consumer goods companies to the United Arab Emirates and Morocco from Monday to Thursday to support their expansion into the Middle East and North Africa market through meetings with local government agencies and business networking events.
The delegation was led by KITA Executive Vice President Lee In-ho and comprised eight companies specializing in medical devices, cosmetics, hair care products and food products.
The UAE is widely considered the business hub in the Middle East, where demand for Korean consumer goods is growing rapidly, driven by strong purchasing power and the rising popularity of Korean culture.
Korea's K-beauty exports to the UAE surged more than ninefold from $31 million in 2020 to $287 million last year. The Korea-UAE Comprehensive Economic Partnership Agreement, which took effect in May, has also laid the groundwork for expanding trade and economic cooperation between the two countries.
Morocco is a strategic market connecting Europe, Africa and the Middle East. It is the only African country with a free trade agreement with the United States and has also established a free trade area with the European Union under an association agreement, positioning it as a manufacturing and export hub for the region.
The delegation held a networking event in Dubai, engaging with 27 local buyers in one-on-one meetings. Major participants included Landmark Group, a retail conglomerate operating in the Middle East and India; LuLu Group, an Abu Dhabi-based multinational retailer; Choithrams, a UAE supermarket chain; and Dubai-based retail conglomerate Al Maya Group.
The delegation also met with UAE Ministry of Industry and Advanced Technology Assistant Undersecretary Farah Al Zarooni and Dubai Economic Development Corporation CEO Hadi Badri to discuss strategies for expanding Korean consumer goods into the halal market and strengthening bilateral cooperation in the consumer goods and distribution sectors.
Korea International Trade Association (KITA) Executive Vice President Lee In-ho, back row left, attends a matchmaking session for Korean consumer goods companies and Moroccan buyers during the event in Casablanca, Morocco, in this handout photo released Thursday. A KITA delegation visited the United Arab Emirates and Morocco from Monday to Thursday to explore local market opportunities for Korean consumer goods companies. Courtesy of KITA
In Casablanca, Morocco, KITA and the local office of the Korea Trade-Investment Promotion Agency held business matchmaking sessions for consumer goods companies, while KITA also hosted a Korea-Morocco Economic Cooperation Seminar with the General Confederation of Moroccan Enterprises (CGEM).
During the matchmaking sessions, delegation members held export consultations with around 10 local retailers, including Carrefour. At the seminar, CGEM and the Moroccan Investment and Export Development Agency shared information on local investment opportunities and market entry strategies.
"The UAE and Morocco each serve as gateways to the Middle East, Europe and Africa, while offering promising markets with consumers having a favorable view toward Korean culture," Lee said.
"We will actively support Korean consumer goods companies in expanding beyond the UAE and Morocco into the broader Middle East and North African market by leveraging their product quality, safety and the strong brand appeal of Korean culture."