UAE Oil and Gas Exhibition, Korean SMEs Participate... Export Consultations and Innovation Technology Showcase

Korea Federation of SMEs Operates 'Premium Korea Pavilion'
Part of Ministry of SMEs and Startups Export Consortium Project
Networking with State-Owned Enterprises, Primary Vendors, and More

[Asia Economy Reporter Kim Bo-kyung] The Korea Federation of SMEs announced that it operated a premium Korea Pavilion at the "UAE Abu Dhabi Oil & Gas Exhibition (ADIPEC 2022)" held for four days from the 31st of last month at the Abu Dhabi National Exhibition Centre in the United Arab Emirates (UAE).

ADIPEC is the world's largest oil and gas specialized exhibition. As part of the export consortium project by the Ministry of SMEs and Startups, the Korea Federation of SMEs created and operated the premium Korea Pavilion again this year following last year.

The companies participating in the Korea Pavilion consisted of about 30 small and medium-sized manufacturing companies possessing machinery, parts, and engineering technologies required at each stage from oil and gas drilling to refining and processing.

These companies, which have export experience in the Middle East including the UAE, hold various global certifications, and are registered as local vendors, have an average export amount of approximately 5 million USD and an average sales revenue of 12.5 billion KRW.

Through a prior demand survey of participating companies before the exhibition, networking was supported by inviting Middle Eastern national oil and gas companies, engineering, procurement, and construction (EPC) firms, and first-tier vendors, which are difficult for SMEs to individually invite.

On the first day of the exhibition, a delegation of purchasing officers from Abu Dhabi National Oil Company (ADNOC) visited the Korea Pavilion and explained ADNOC supplier registration procedures and local investment incentives in the UAE. Our companies introduced innovative technologies of interest to ADNOC and discussed carbon reduction and eco-friendly products.

Samyang Metal Industry, a flange manufacturer equipped with high-tech manufacturing facilities, held export consultations worth 780,000 USD with NPCC, a UAE EPC company, at this exhibition.

Valve manufacturer Prosave received a quotation request worth 300,000 USD through a meeting with Saipem, an Italian EPC company currently undertaking 80% of the UAE petrochemical complex construction project.

Soo, a producer of automatic fire suppression products, demonstrated its products at the exhibition and successfully concluded its first export contract in the UAE (approximately 20,000 USD) on site.

Jeon Hye-sook, head of the Trade Promotion Department at the Korea Federation of SMEs, said, "We will continue to support our small and medium manufacturers to spread their wings in exports with Korea Premium in various fields of the oil and gas industry."