UAE and S.Korea strengthen economic ties at high-level roundtable

The event was organised by the Ministry of Foreign Trade, Abu Dhabi Chamber of Commerce and Industry, and the Federation of Korean Industries, bringing together ministers, officials, and business leaders from both countries.

UAE Leadership’s remarks and vision

Sheikh Khaled bin Mohamed bin Zayed welcomed President Lee and emphasised the UAE’s commitment to developing mutually beneficial partnerships. He highlighted the importance of expanding trade, investment, and cooperation in sectors aligned with shared visions for sustainable growth and prosperity.

Strategic partnership and agreements

He reaffirmed the UAE-Republic of Korea strategic partnership, citing the progress made through the Comprehensive Economic Partnership Agreement (CEPA), signed in May 2024. This agreement is set to foster new opportunities by removing trade barriers and enhancing cooperation between the two nations’ public and private sectors.

Attendees and participants

On the UAE side, senior officials and business leaders, including Khaldoon Khalifa Al Mubarak and Mohamed Hassan Alsuwaidi, participated in the discussions. The Korean delegation was represented by senior officials and sector representatives, focusing on investment opportunities.

Investment opportunities and sector cooperation

During the discussions, both sides explored market opportunities and invited Korean businesses to invest in the UAE’s transforming industrial sector, driven by the Operation 300bn strategy, which aims to significantly boost the sector’s contribution to GDP by 2031.

Bilateral trade and Future Prospects

Non-oil trade between the UAE and Korea reached US$6.6 billion in 2024, marking steady growth, with continued momentum into 2025. Both sides are committed to deepening cooperation through sector-specific investments and bilateral meetings to foster mutual economic growth.