H.E. Abdullah bin Touq Al Marri, UAE Minister of Economy, held a bilateral meeting with H.E. Lee Young, South Korean Minister of SMEs and Startups, to explore the strengthening of cooperation in promoting entrepreneurship and supporting the growth of small and medium enterprises in the two countries’ markets.
H.E. Bin Touq emphasized the strong, strategic relations ties between the UAE and Korea, which continue to grow on the economic, trade and investment fronts, thanks to the shared aspirations of both leaderships to develop them and the frequent exchange of visits by high-level delegations.
During the meeting, both sides stressed the importance of expanding current co-operation and partnership between the UAE and South Korea, especially in the economy, trade, investment, energy in its various traditional and renewable sectors, advanced technology and other fields that relate to economic diversification plans and building a knowledge-based economy.
The UAE is South Korea’s second-largest trade partner in the GCC and the Arab world as of 2022, said Abdullah bin Touq, UAE Minister of Economy.
The UAE had recently announced its intention to invest about Dh110 billion in South Korea over the next few years. Currently, the UAE's investments in South Korea are concentrated in key sectors such as industry, trade, shipping, communications, real estate and commerce.
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