The Abu Dhabi Exports Office and Korea Trade Insurance Corporation signed an agreement to promote exports and investments, especially in the fields of energy and electric vehicles, on Tuesday.
The agreement was signed on the sidelines of the UAE-Korean Business Forum, organised by the Abu Dhabi Chamber of Commerce & Industry. Yoon Suk-yeol, President of South Korea, was present at the event.
Signed by Mohamed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development and Chairman of the Exports Executive Committee of the Abu Dhabi Exports Office, and Inho Lee, Chairman and President of Korea Trade Insurance Corporation (K-SURE), the agreement aims to promote Emirati exports, drive investment, and explore fresh opportunities to carry out partnership projects, especially in the field of hydrogen, nuclear and renewable energy, and electric vehicles, thus increasing the volume of trade between the UAE and South Korea.
Al Suwaidi said: “This new partnership will lead to stronger cooperation with K-SURE, acceleration of economic activity in vital sectors, and development of exports of the two countries.”
He pointed out that such partnerships create opportunities to champion the interests of Emirati companies and contribute to raising the competitiveness of Emirati products in the global market.
“Through our partnership, we will continue to provide competitive financing to Korean companies to import Emirati goods and services. The partnership will also enable us to increase the presence of Emirati products in the international market,” he added.