UAE-Korea Business Forum Strengthens Trade and Investment Tie

UAE, 29 May, 2024 : The UAE-Korea Business and Investment Forum concluded in Seoul, marking the official visit of President His Highness Sheikh Mohamed bin Zayed Al Nahyan to Korea. The event, attended by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and a high-level UAE delegation, aimed to enhance trade and investment relations between the two countries.

Organized by the UAE's Ministries of Investment and Economy, alongside the UAE Embassy in Seoul and Korea’s Ministry of Trade, Industry and Energy, the Forum focused on sectors like energy, ICT, logistics, and manufacturing. Dr. Al Zeyoudi emphasized the growing economic ties between the UAE and Korea, highlighting the shared vision for strategic investment and technological development.

Dr. Al Zeyoudi invited private sectors to leverage economic synergies, citing the UAE’s $30 billion investment commitment to Korea and the Barakah nuclear power plant's success. He underscored the Forum's role in promoting bilateral trade and facilitating investment across various sectors.

Korean Minister of Trade, Inkyo Cheong, highlighted the Forum's importance for fostering business cooperation. Abdulla Mohammed Al Mazrouei, Chairman of the UAE Federation of Chambers of Commerce and Industry, noted the strong strategic partnership and increasing trade volumes between the nations.

The Forum featured over 250 representatives and included sessions on clean energy partnerships, innovation in ICT, and logistics. A Memorandum of Understanding was signed between the UAE’s TECOM Group and Korea’s Meditox to enhance cooperation. The UAE delegation included senior government officials and representatives from major companies in logistics, industry, energy, technology, and other sectors.

Source : www.wam.ae