Qatar Free Zones Authority (QFZA) has signed a memorandum of understanding (MoU) with the Korean Economic Zone Planning Office for the economic development of both countries through mutual co-operation between Qatar Free Zones (QFZ) and the Korean Free Economic Zones (KFEZ).
The signing ceremony was attended by HE the Minister of State and QFZA chairman Ahmad bin Mohamed al-Sayed, and Minister of Trade, Industry and Energy of the Republic of Korea Moon Sung Wook, as well as South Korean ambassador Lee Joon Ho and several senior officials from QFZA and South Korea.



The agreement was signed by Abdullah al-Misnad, deputy CEO at QFZA, and 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 and Innovation Park to showcase the advanced infrastructure and services offered to investors in the free zones.
According to the MoU, QFZA and KFEZ will co-operate in several areas, including sharing policies and best practices to attract investments and co-operating to establish networks between the companies located in each zone. To ensure strict implementation of the MoU, QFZA and the Korean Economic Zone Planning Office will hold a meeting once a year, alternating on hosting responsibilities.