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UAE Ties with South Korea to Strengthen Clean Energy Collaboration

During the session, both sides consented to broaden and enhance economic collaboration across 11 strategic sectors, with a major focus on the new economy.

July 10, 2023. By EI News Network

The eighth session of the UAE-South Korea Joint Economic Committee (JEC) took place in Seoul, led by H.E. Abdullah bin Touq Al Marri, Minister of Economy (UAE), and H.E. Kyungho CHOO, South Korean Deputy Prime Minister and Minister of Economy and Finance.

Underlining the crucial development in bilateral relations between the UAE and South Korea, H.E. bin Touq emphasised the assistance and patronage of the leadership of both countries in running this development.

The Joint Economic Committee has enabled the fostering of a strategic partnership between the two nations, focusing on sustainable development objectives.

During the session, both sides consented to broaden and enhance economic collaboration across 11 strategic sectors, with a major focus on the new economy. The primary target of this agreement is to provide the progressive agenda of both nations and boost a more adaptable and competitive economic model.

H.E. bin Touq expressed that the session would encourage increased cooperation and unlock new investment opportunities, especially for SMEs, in evolving sectors of the new economy.

He said “We are proud of our strategic relationship with South Korea, spanning about 42 years. This relationship has been built upon friendship, mutual respect, and concerted efforts at both governmental and private sector levels. Undoubtedly, economic cooperation is the cornerstone of this strategic partnership, which has manifested through numerous collaborative endeavours in crucial sectors such as renewable energy, intellectual property, healthcare, technology, and agricultural technology. These projects have strengthened economic and trade cooperation between the two countries and moved it to higher levels.”

H.E. Kyungho CHOO, Deputy Prime Minister and Minister of Economy and Finance talked about the significance of strengthening economic and trade relations in new economy sectors, aiding the sustainable economic development of both nations.

The UAE and South Korea expressed their commitment to augmenting and diversifying bilateral cooperation throughout a broad range of sectors, with a particular emphasis on the green economy and clean energy sectors.

Tags:

Sustainable development objectives

Green economy

Renewable energy sector

Commitment

8th session of UAE-South Korea Joint Economic Comm

Seoul