Qatar Free Zones Authority (QFZA) signed a Memorandum of Understanding (MoU) with the Korean Economic Zone Planning Office, to contribute to the economic development of both countries through mutual cooperation between Qatar Free Zones and the Korean Free Economic Zones (KFEZ).

The signing ceremony was attended by His Excellency Mr. Ahmad Al-Sayed, Minister of State and Chairman of QFZA, His Excellency Moon Sung Wook, Minister of Trade, Industry and Energy, and His Excellency Lee Joon Ho, the Korean Republic Ambassador to Qatar, in addition to several senior officials from QFZA and the Korean Republic.

The agreement was signed by Mr. Abdullah Al-Misnad, Deputy CEO at QFZA, and Mr. Sung-il Ahn, Director General of the Free Economic Zones Planning Office. The signing was followed by an introductory tour of Ras Bufontas Free Zone and the Business & Innovation Park to showcase the advanced infrastructure and services offered to investors in the Free Zones. 

According to the MoU, QFZA and KFEZ will cooperate in several areas, including sharing policies and best practices to attract investments and cooperating to establish networks between the companies located in each zone. To ensure the faithful implementation of this MoU, QFZA and the Korean Economic Zone Planning Office will hold a meeting once a year, alternating on hosting responsibilities.