The UAE is becoming one of the fastest growing economies in the Middle East countries. It has its vast oil reserves as well as the intense growth of industrialization to thank for the boost in the economy. Seeing the immense potential of the country, there has been heavy investment in the nation’s industrial infrastructure, especially in the industrial manufacturing sector.
Advancing UAE furniture industry
Today, UAE is recognized as one of the major traders in furniture items. According to a report by Dubai Exports, UAE currently has more than 600 major furniture manufacturing units operating which have seen a total investment for set-up and management for over $270 million. This figure means that today, the UAE furniture industry makes up for over 13% of the total industries in the country. The UAE furniture industry saw an investment of a total 1.2% of the total industrial manufacturing investment in the country, last year.
Lucrative Korean furniture industry
One of the countries that enjoy a dynamic and lucrative trade relation with UAE is South Korea. The South Korean industrial prowess is known worldwide. This South Asian country is also one of the major manufacturers and exporters of high-quality furniture. According to the latest report by Statista, South Korea’s furniture and appliances manufacturing segment saw a huge investment of above $2,500 million, this year. The report also estimated a growth by CAGR of almost 14% within the next five years, till 2021. The South Korean Furniture and Home-ware sector has a market value worth around $1,290 million as of date.
Opportunity of a lifetime for UAE and Korean furniture businessmen
Seeing the immense opportunities provided by the highly favorable market and economic conditions, Kompass has arranged for an exclusive meeting between 35 select delegates from the major South Korean furniture maker and the UAE furniture industry players. This 3-day meeting between South Korean furniture company representatives is an avenue for large and small furniture-makers from the UAE, especially Dubai, to get together and establish strong and long-lasting business relations.
This meeting is aimed at providing a platform to the various Korean furniture industry leaders for presenting their products and business plans for stronger trade relations with UAE. At the same time, the furniture manufacturers and traders from Dubai, and UAE, also get the chance to interact with the Korean furniture industry delegates and make contact for business collaboration, partnership or trade.
Kompass UAE – Providing effective B2B solutions
Kompass UAE has been providing extensive B2B solutions to a large variety of industries and businesses since more than 60 years now. Kompass UAE is mainly engaged in providing extensive business consumer database to clients from a variety of industrial segments. A part of the international Kompass brand, Kompass UAE currently maintains and organized more than 13,600 executive contact numbers from over 7,800 companies from the UAE. These also include over 7,500 official corporate and executive email addresses.
Kompass UAE is also involved in organizing (and contributing in) various industrial events, meeting, exhibitions and seminars. These are all aimed at bringing the industrial players from all over the world on a single representative platform in UAE for better and more efficient trade relations with the country.