UAE, South Korea keen on new business deals

By IANS/WAM,

Abu Dhabi : The United Arab Emirates (UAE) and South Korea are interested in bilateral investment in the fields of energy, education, telecommunications and information technology.

UAE Ambassador to South Korea Abdullah Khalfan Al Rumaithi said both countries were also keen to expand strategic partnership in the oil, renewable energy, construction, shipbuilding and semiconductor sectors.

The UAE envoy said trade got a boost after the visit of Abu Dhabi crown prince Sheikh Mohammed bin Zayed Al Nahyan to South Korea in May 2010. The visit came in the wake of a South Korean consortium winning a bid to build four nuclear reactors in the UAE as part of the country's civil nuclear energy programme.

He said South Korea has decided to open an office in Abu Dhabi to manage Korean investment in the Middle East and North Africa.