Deepening Korea-UAE Ties
The Ministry of Economy and Finance announced on Sept. 8 that the seventh Korea-UAE Joint Economic Committee meeting took place in the afternoon of Sept. 7. The committee is a ministerial council of the two countries established in 2006 and covering bilateral economic cooperation.
At the video conference, the two sides agreed to expand their cooperation in the fields of Industry 4.0 such as artificial intelligence, the Internet of Things and 5G communications. Also, they agreed to share their innovative growth experiences and venture growth strategies.
Regarding the two countries’ joint project for rice cultivation in the Middle East, they successfully finished initial demonstration in May this year and agreed at the video conference to conduct more research on how to make it more efficient.
In the energy sector, they are going to work together in alternative and renewable energy segments as well as oil, gas and nuclear power. The South Korean government requested South Korean companies’ more participation in infrastructure projects in the UAE and asked the UAE government to take measures so that construction projects in the UAE delayed due to COVID-19 no longer affect South Korean builders there.
As for their joint response to COVID-19, the two governments are going to expand mutual exchange and cooperation between medical personnel and institutions beyond test kit exports and special fast-track entry. Sending to South Korea of UAE patients whose costs are covered by the UAE government, which is currently suspended due to COVID-19, is expected to be resumed in the near future.