The UAE-Korea Business and Investment Forum concluded in Seoul, coinciding with President Sheikh Mohamed bin Zayed Al Nahyan's visit.
Dr. Thani bin Ahmed Al Zeyoudi, alongside Emirati delegates, aimed to enhance bilateral trade ties, focusing on sectors like energy, ICT, logistics, and manufacturing.
Dr. Al Zeyoudi said that economic ties between the UAE and the Republic of Korea are witnessing robust growth across all major sectors owing to the joint will of the leaderships of both sides.
Dr. Al Zeyoudi advocated for stronger UAE-Korea ties, highlighting mutual interests in trade, investment, and technology. Emphasizing Korea's advanced economy and UAE's growth goals, he underscored the forum's role in fostering bilateral trade, investment, and collaboration across sectors like energy, manufacturing, and healthcare.
“Our nations are long-standing friends and we look forward to building on today’s conversations and delivering long-lasting benefits for our respective economies,”
he added.
Dr. Al Zeyoudi urged private sectors in the UAE and Korea to leverage economic synergies, emphasizing logistics, connectivity, and free zones. He noted UAE's $30B investment in Korea and the success of Barakah nuclear plant as signs of deepening economic ties.
InKyo Cheong, Korea's Minister for Trade highlighted the significance of the Business Forum in fostering bilateral cooperation between Korea and another country. He emphasized its role in facilitating exchanges among business leaders, fostering investment opportunities, and reinforcing long-term economic ties, pledging ongoing government support for such initiatives.
Abdulla Mohammed Al Mazrouei, Chairman of the UAE Federation of Chambers of Commerce, highlighted the strong strategic partnership between the UAE and South Korea, emphasizing shared development goals focused on knowledge and innovation. Discussions in Seoul included plans to enhance economic cooperation, building on record non-oil trade of $5.3 billion in 2023.
The UAE-Korea Business and Investment Forum gathered 250 public- and private-sector leaders to enhance collaboration in key sectors like clean energy, ICT, and trade. Highlighting bilateral ties, an MoU was signed between UAE’s TECOM Group and Korea’s Meditox. The visiting delegation comprised 60+ participants, including government officials and industry representatives.
News Source: Emirates News Agency
