The Emirati-Korean Business and Investment Forum, which concluded its work today, was held on the sidelines of a “state” visit made by His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, “may God protect him,” at the head of a high-level delegation to the Republic of Korea.
An Emirati economic delegation participated in the forum, in the presence of His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, which included representatives of government and private agencies and Emirati companies operating in various sectors.
The forum, which was organized by the Ministries of Economy and Investment in cooperation with the UAE Embassy in Seoul and the Ministry of Trade, Industry and Energy of the Republic of Korea, aimed to expand trade relations between the two countries in high-growth sectors such as energy, information and communications technology, logistics and manufacturing.
His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, confirmed that UAE-Korean relations are witnessing further prosperity in all fields thanks to the joint will of the leadership of the two friendly countries to advance them to broader horizons.
During his speech at the forum, His Excellency Dr. Thani Al Zeyoudi focused on the promising prospects for UAE-Korean relations and the possibilities of raising them to new levels of joint growth, citing the two countries’ shared vision for open, rules-based trade, strategic investment and technological development.
His Excellency said: “The Republic of Korea enjoys a strategic location, a developed digital economy, and an attractive business environment, and is an important partner for the UAE. The two countries have a common will to advance bilateral relations to broader levels with the aim of strengthening vital supply chains between East and West, facilitating foreign direct investment flows in both directions, and promoting research.” Sharing and transferring knowledge across a wide range of economic sectors, including energy, renewables, advanced manufacturing, technology, food security and healthcare… represents an important development of a long-standing friendship, and we look forward to working together to reap its many benefits.”
He added that the UAE-Korea Business and Investment Forum is an important platform to advance bilateral relations and explore opportunities to conclude partnerships and agreements between the business communities on both sides. He called on the private sector to take full advantage of the many aspects of economic cooperation, which include world-class logistical infrastructure, connectivity, ease of doing business and free zones. Specialized. For his part, His Excellency Inkyu Cheong, Trade, Industry and Energy of the Republic of Korea, said: “The UAE-Korea Business and Investment Forum provides an important platform for business leaders from the two countries to exchange ideas, experiences and goals and allows the private sector on both sides to discover new opportunities for investment and cooperation, and to expand and strengthen economic cooperation between the two countries. The Korean government will continue to support these endeavors and work to ensure that bilateral relations lead to tangible results in the long term in the future.”
In turn, Abdullah Mohammed Al Mazrouei, Chairman of the Federation of Chambers of Commerce and Industry in the UAE, confirmed that the UAE and the Republic of Korea have been able over the past years to develop a promising strategic partnership, motivated by common development ambitions that place knowledge and innovation at the heart of the future of the two friendly countries, while giving investment in education and human resources a major priority. .
He added that these strong relations were reflected in the increased volume of bilateral non-oil trade and increased mutual investment flows, which now cover a variety of economic sectors, including metals, manufacturing, logistics, and information and communications technology. We look forward to expanding economic cooperation and continuing to strengthen relations and advance them to new levels. During the forum, His Excellency Dr. Thani Al-Zeyoudi held talks with His Excellency Inkyu Cheung, the South Korean Minister of Commerce, in the presence of Abdullah Mohammed Al Mazrouei, Chairman of the Federation of Chambers of Commerce and Industry in the country, and Juma Al Kait, Assistant Undersecretary for Affairs. International trade and discussed ways to expand non-oil trade amounting to $5.3 billion in 2023. The forum witnessed 3 main sessions in the presence of more than 250 participants, including senior officials and representatives of government agencies and private companies from both sides.
The first session discussed ways to advance cooperation relations in the field of renewable energy, and was entitled “Promoting the Future Together: Exploring Clean Energy Partnerships.” The second session focused on “Transferring Innovations: The Future of Information and Communications Technology,” while the third session addressed ways to “Stimulate Trade: Services.” Logistics, manufacturing and free trade.
During the forum, a memorandum of understanding was signed between the Emirati TECOM Group and the Korean “Medetox” to enhance cooperation in areas of common interest. The forum witnessed the holding of many bilateral meetings between business leaders and representatives of companies working in the same fields to discuss future partnership and cooperation prospects. The UAE delegation included More than 60 participants from ministries and government agencies, in addition to officials from a group of major Emirati companies operating in various sectors, including trade, investment, logistics, industry, energy, technology, healthcare, environment, agriculture, food security, and financial services.
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