Arab News, Monday, Jan 17, 2022 | Jamada Al-Aakhirah 14, 1443
UAE and South Korea sign agreements in defense, hydrogen cooperation
Emirates:
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.
A joint study agreement was signed between ADNOC, the Korea National Oil
Corporation and SK Gas on hydrogen, and another agreement between ADNOC and
KNOC on ammonia cargo.
“During the next phase, we plan to draw up plans to further expand
cooperation in areas of common interest, as well as explore development
opportunities in priority sectors,” Sheikh Mohammed said.
Moon will meet Saudi Arabia’s Crown Prince Mohammed bin Salman in Riyadh on
Tuesday and the head of the Gulf Cooperation Council Nayef Al-Hajraf on
Wednesday, when he is expected to announce the resumption of Gulf free-trade
talks. He will meet Egyptian President Abdel Fattah El-Sisi in Cairo on
Thursday, South Korean news agency Yonhap said.