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South Korea / WAM
The latest trend in UAE-South Korea bilateral trade shows the strong and resilient economic relations between the two countries, according to the UAE’s top diplomat in Seoul.
“The UAE-South Korea non-oil bilateral trade has grown to US$1.3 billion during the first quarter of 2022, a 19 percent increase compared to the same period last year,” Abdulla Saif AlNuaimi, the UAE Ambassador to South Korea, said at Jeju Forum for Peace and Prosperity, held on Jeju Island in South Korea.
Addressing the Arab Ambassadors’ Forum, he said the UAE is the only country in the Middle East that has a Special Strategic Partnership with South Korea, which has helped grow the bilateral relations in all areas, especially in economy and trade. The UAE-South Korea bilateral cooperation is enhancing in many areas, especially in renewable energy, infrastructure, health and medicine, future-oriented technology and innovation, AlNuaimi explained.
Barakah nuclear power plant and several oil fields are the major projects undertaken by South Korean companies in the UAE, he noted.