LONDON: The UAE and South Korea signed several agreements on Sunday during President Moon Jae-in’s official visit to the Emirates to attend the “Day of Korea” ceremony at Expo 2020 Dubai.
Sheikh Mohammed bin Rashid, UAE vice president and prime minister and ruler of Dubai, praised relations between the two countries and their keenness to further boost bilateral ties in various areas, Emirates News Agency reported.
“The strategic partnership between the UAE and Korea provides many opportunities to enhance cooperation in various fields, including economy, trade, food security, health, culture, space, energy and tourism,” he said, adding the Emirates is South Korea’s top trade partner in the region.
The volume of non-oil trade between the two countries reached $4.8 billion in 2020.
“Prominent strategic projects such as the Barakah Nuclear Energy Plant are proof of the depth of relations between the two friendly nations,” Sheikh Mohammed said. “We also appreciate the active participation of the South Korea pavilion at Expo 2020 Dubai.”
During the meeting, a memorandum of understanding was signed between the UAE's Ministry of Defense and South Korea's Defense Acquisition Program Administration on medium and long-term cooperation in the fields of defense industries and technology.
UAE’s Tawazun Economic Council (Tawazun) signed an MoU with Korea’s LIG Nex1 Co. and two MoUs with Hanwha Systems Co.
Abu Dhabi National Oil Company (ADNOC) signed three agreements with a number of Korean entities, and they include a framework agreement between ADNOC and the Export-Import Bank of Korea.
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