UAE and South Korea Commit to Strengthening Economic Ties

President His Highness Sheikh Mohamed bin Zayed Al Nahyan embarked on a state visit to Seoul South Korea, underscoring the robust partnership between the UAE and Asia fourth largest economy.

Accompanying the UAE President was a high level delegation including Minister of State for Foreign Trade Dr. Thani Al Zeyoudi. On the sidelines of the presidential visit, the two countries convened the UAE-Korea Business and Investment Forum, bringing together public and private sector stakeholders.

In his remarks to the forum, Dr. Al Zeyoudi touted the success story of UAE-Korea relations and the untapped potential for greater partnership. "Korea is a hugely important trade and investment partner for the UAE. This forum will enhance our bilateral ties by promoting bilateral trade and facilitating investment across key sectors," he stated.

The Minister highlighted sectors ripe for expanded cooperation such as energy, advanced manufacturing, technology, food security and healthcare. He invited businesses from both countries to capitalize on synergies in areas like logistics infrastructure, connectivity and business friendly environments.

South Korea's Trade Minister InKyo Cheong concurred on the forum's importance for allowing private sectors to discover new opportunities. "Our government will continue supporting endeavours that produce tangible results long-term in bilateral relations," he affirmed.

The UAE recently committed $30 billion in investment to South Korea. Landmark projects like the Barakah nuclear power plant showcase increasing integration. Going forward, both countries remain committed to future proofing economic partnership through open rules based trade and strategic collaboration on innovation.

Under the leadership of President Sheikh Mohamed and the South Korean President the UAE and Korea look to further strengthen ties and capitalize on complementarities for mutual prosperity.