The two top diplomats reviewed the regional and international efforts towards de-escalation and ensuring the sustainable and safe delivery of humanitarian aid to civilians…reports Asian Lite News
H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, discussed with Park Jin, Foreign Minister of Republic of Korea, the ongoing developments in the Middle East region and the efforts to protect all civilians.
In a telephone conversation, the two top diplomats reviewed the regional and international efforts towards de-escalation and ensuring the sustainable and safe delivery of humanitarian aid to civilians. They also explored ways to end extremism, tension, and escalating violence in the Middle East region.
The two ministers affirmed the importance of prioritising the protection of lives and civilians from the fallout of the crisis, and the need to find political solutions to de-escalate the situation and boost the humanitarian response to ensure the needs of civilians are met.
Sheikh Abdullah and Park Jin also discussed a number of topics related to the strategic relations between their countries.
Few weeks ago, UAE and South Korea have concluded their negotiations towards a Comprehensive Economic Partnership Agreement (CEPA). Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Dukgeun Ahn, Minister of Trade for the Republic of Korea, concluded the talks.
A UAE-Korea CEPA will reinforce East-West supply chains, facilitate two-way FDI flows, and enhance joint research and knowledge exchange across a range of sectors, including energy, advanced manufacturing, technology, food security and healthcare.
The bilateral deal comes amid advancing trade exchange between the two nations. In the first half of 2023, bilateral non-oil trade reached US$3 billion, which is consistent with H1 2022 and up 21 percent in the same period in 2021.
The UAE is Korea’s second-largest Arab trade partner, while Korea is the UAE’s eleventh-largest trading partner among non-Arab Asian countries.
At the Presidential Summit in January 2023, the two nations signed a number of memoranda of understanding, including the ROK-UAE Trade and Investment Promotion Framework to pursue optimal trade collaboration strategies, covering areas such as supply chains, digital trade, logistics, business environment and technical barriers to trade, and a U$30 billion plans to invest in strategic sectors of the Korean economy.
In April this year, all four units of the US$20 billion Barakah Power Plant in Abu Dhabi, constructed by the Korea Electric Power Corporation in a consortium that included Hyundai, Samsung, Korea Hydro and Nuclear Power, and Doosan Heavy Industries and Construction, became operational, with the capability of meeting up to 25 percent of the UAE’s electricity needs.
