UAE, South Korea Sign A Number Of Trade Agreements

Abu Dhabi: A host of Memorandums of Understanding (MoUs) were signed between the UAE and South Korea on Sunday following a meeting between the two countries’ leaders.

His Highness Shaikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, and Moon Jae-in, President of South Korea, attended the signing of the agreements following a meeting.

Shaikh Mohammad and Moon held talks on bilateral relations and ways to develop them for the mutual interests of both nations. They discussed avenues of cooperation in the field of investment, economy, trade, science, technology, energy and health care. The talks also touched on the UAE’s peaceful nuclear programme, and the positive role played by South Korea and its partners in the programme.

Shaikh Mohammad expressed his wishes that bilateral relations would witness more growth and development in different areas.

Shaikh Mohammad and Moon also spoke about regional and international issues of common concern, and exchanged views on them.

Shaikh Mohammad hailed the keenness of Moon to develop Emirati-Korean relations in all fields.

The Abu Dhabi Crown Prince said that the UAE, under the leadership of President His Highness Shaikh Khalifa Bin Zayed Al Nahyan, is determined to expand avenues of cooperation with South Korea in the near future, particularly in the field of energy, industry, investment and technology.

Shaikh Mohammad said that South Korea serves as a distinguished model for development that is based on innovation and knowledge, which he said is a solid basis for building strong relations with the UAE, which as part of its development strategy, gives great attention to issues pertaining to innovation, technology and human resources.

Strong push

He further pointed out that UAE-South Korea relations will grow in strength, expansion and growth during the coming period, and added that Moon’s visit is a very strong push for bilateral relations.

The UAE welcomed Moon’s proposal to upgrade relations to special strategic levels. The UAE said that the proposal represents a special recognition of the two countries’ relations and suggests an effective mechanism for achieving more communication while paving the way for an advanced phase in bilateral relations.

Commenting on the contributions of South Korean companies operating in the UAE and the role they play in supporting the nation’s development plans, Shaikh Mohammad expressed his wishes that bilateral relations would witness more growth and development in different areas.

For his part, Moon said that he is happy that the UAE was the first Middle Eastern country he visited since his election as President of South Korea. He said that his country is intent on bolstering strategic relations with the UAE and developing them to greater horizons of effective cooperation and partnerships in different fields.

Moon also said that he was proud to visit Shaikh Zayed Grand Mosque, which he described as beautiful and imbued with the spirit of tolerance and unity.

Factbox: Agreements signed between the two countries

An MoU was signed between the UAE’s Ministry of Economy and Korea’s Ministry of SMEs and Startups for cooperation in the field of SMEs and innovation.

An MoU between the UAE’s Ministry of Economy and Korea’s Executive Office for Intellectual Property for setting up an advanced patents management system in the UAE.

An MoU on South Korea participation in World Expo 2020

An MoU between Abu Dhabi’s Department of Economic Development and Korea’s Ministry of Science and ICT for cooperation in the field of sciences.

An MoU between Abu Dhabi’s Department of Energy and Korea’s Ministry of Trade, Energy and Industry for cooperation in renewable energy.

— WAM