ABU DHABI, (Pakistan Point News - 09th Jul, 2020) The UAE and South Korea are celebrating the 40th anniversary of their diplomatic ties which were launched in 1980, with the inauguration of the South Korean Embassy in Abu Dhabi.
The partnership between the two countries includes the launch of projects in the areas of nuclear energy, healthcare, culture, education, government administration, space and energy.
Both countries have reinforced their partnership by organising many official visits and meetings between senior officials. The official visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to South Korea in February 2019 was one of the key milestones in their partnership, which has witnessed the signing of 12 agreements and Memorandums of Understanding, MoUs.
Over the past 40 years, the ties between the two friendly countries have significantly advanced, reaching the level of a strategic partnership in 2009 and further developing to a higher level with the signing of the Barakah Nuclear Power Plant Construction Project in the same year.
The project, costing US$18.6 billion, is one of the most important cooperation agreements signed between the two countries and is the first South Korean nuclear plant construction project outside the country, as well as the first peaceful nuclear plant project in the Arab region.
The strategic partnership between the UAE and South Korea is based on several factors, most notably the strong political will of their leaderships to improve their overall ties, the convergence of their views on regional and international topics, and the full realisation of the nature of their mutual interests.
The UAE is the second leading oil exporter to South Korea and the second leading importer of South Korean products in the middle East. Both countries have also adopted similar development models to create a knowledge-based economy and invest in human resources.
Economic cooperation is one of the key areas of their strategic partnership. The value of trade between the two countries amounted to $17 billion at the end of 2018, and Emirati markets are the largest global destination for Korean construction companies and the largest importer of South Korea goods in the Middle East.
Both countries have also cooperated in the field of small and medium-sized enterprises, SME, and have exchanged expertise in this area. South Korea has considerable experience in the field of SMEs, which account for 99 percent of Korean companies and number over 3 million.
Joint economic committee meetings between the two sides have helped reinforce their relations and strengthen their cooperation in the areas of innovation, technology, SMEs, medicine, education and healthcare.
Tourism is one of the major elements of developing ties between the two countries. The number of Emirati citizens visiting South Korea amounted to 11,000 while over 200,000 South Korean tourists visit the UAE every year. UAE national carriers Etihad Airways and Emirates operate 14 weekly flights to Korea.
Both countries share a joint vision based on celebrating all cultures from around the world and promoting peace and cultural exchange. In light of this mutual understanding, the UAE-Korea Cultural Dialogue Initiative 2020 was launched to highlight a model of international relations based on respect and tolerance.
In 2016, the UAE hosted the first festival of its kind to celebrate Korean cultural heritage and promote it among the Emirati community. In the same year, the Korean Cultural Centre was inaugurated in Abu Dhabi.
Korean culture was a guest at the Abu Dhabi Festival 2019, which is one of the country’s leading annual cultural events, which took place following the signing of a strategic partnership agreement in March 2018.
