Chairman Kim Ki-moon Receives Proposal to Host Baekdu Forum in Muscat, Oman

Meeting with the Chairman of the Oman Chamber of Commerce and the Minister of Commerce in Oman

Kim Ki-moon, Chairman of the Korea Federation of SMEs, met with the Chairman of the Oman Chamber of Commerce and Industry and the Minister of Commerce to receive a proposal to hold the Baekdu Forum in Muscat, Oman. The Baekdu Forum is a global forum hosted annually since 2010 by the Korea Federation of SMEs, rotating among countries with close economic ties to Korea to support the overseas expansion of small and medium-sized enterprises.

The Korea Federation of SMEs announced on the 12th that Chairman Kim visited Oman and held a series of meetings with Faisal Abdullah Al Lawas, Chairman of the Oman Chamber of Commerce and Industry, and Qais bin Mohammed Al Yusef, Minister of Commerce of Oman.

Kim Ki-moon, Chairman of the Korea Federation of Small and Medium Business, is visiting Oman and taking a commemorative photo with Faisal Abdullah Al Lawas, Chairman of the Oman Chamber of Commerce and Industry.

Faisal Al Lawas, Chairman of the Oman Chamber of Commerce, requested, “We hope that the 16th Baekdu Forum, as the first step for Korean SMEs with excellent technology to enter Oman, will be held not elsewhere but in Muscat.” He also stated, “Before the Oman delegation visits the Osaka Expo in Japan this April, we hope to visit Korea to share lists of desired industries between the two organizations and achieve practical exchange and cooperation.”

At the subsequent meeting, Qais Al Yusef, Minister of Commerce of Oman, said, “We are aware of the Oman Chamber’s proposal to hold the Baekdu Forum in Muscat, and the Oman government will actively support investment briefings and incentives for companies entering the market.” He also requested Chairman Kim to serve as a bridge between the governments of Oman and Korea. Additionally, he added, “Oman and the United States have an FTA, and since the U.S. provides many incentives, it is more advantageous for Korean companies to produce and export products from Muscat than exporting directly from Korea. There is also the possibility of supplying cheap labor from countries like Pakistan and Sri Lanka, so there are many areas for cooperation with Korean SMEs.”

In response, Chairman Kim said, “At the 2023 Dubai Forum, we introduced Korean SMEs in medical devices, pharmaceuticals, and smart farms, achieving good results.” He added, “Although Oman may be unfamiliar to Korean businesspeople, since both organizations strongly request holding the Baekdu Forum in Oman, expanding cooperation beyond simple product exports to joint ventures with local companies can lead to mutual development of companies in both countries.” He further proposed, “When the Oman delegation visits Korea, let us jointly hold a business roundtable to match the necessary technologies and industries.”