President Park Geun-hye stresses that the two nations can build further bilateral economic cooperation in three particular areas, at the Korea-UAE business forum in Abu Dhabi on March 5.
During the Korea-United Arab Emirates business forum in Abu Dhabi on March 5, President Park Geun-hye said that, "Korea and Abu Dhabi are tied together in a strategic partnership that will last for a century," suggesting that the two nations should work together to enhance cooperation on energy and on higher value-added businesses, and should join forces to make inroads into third markets.
President Park Geun-hye celebrates the opening of the business forum in Abu Dhabi on March 5.
As for cooperation in the energy sector, President Park said that the construction of a nuclear power plant is a symbol of their strong bilateral ties, and that its management and maintenance are worth paying attention to as it will create added-value businesses, as much as the construction itself did. She also stressed that the new energy industry is promising. "The UAE's abundant solar energy can be combined with Korea's technology to create solutions to overcome global climate change and to create new business models."
Regarding cooperation on value-added industries, President Park mentioned halal food. She said, "There is huge potential for bilateral cooperation in the food industry, especially on halal food. The two nations will be able to take the lead in the global food industry if they use a reliable halal certification system, develop mutual trust and create menu items favored in both countries. She also mentioned that the two nations maintain bilateral ties in the public health sector. She expressed her hope that they expand such cooperation to cover medicine, too, giving a chance to boost investment and cooperation between private companies.
President Park went on to say that, "It's important to discover new areas for bilateral cooperation, but now is the time to broaden our horizons of working together to make inroads into global markets." She hoped that the two nations would successfully enter the Egyptian market, currently well underway, and have the chance to build experience and know-how together, based on which they will be able to make a series of successes afterwards.
President Park Geun-hye asks for bilateral cooperation and development at the Korea-UAE business forum in Abu Dhabi on March 5.
President Park emphasized that, "I would like to suggest that Korean corporations trust in the potential of the UAE and that their UAE counterparts trust Korea's competitiveness. Thereby the two nations could take a giant step toward economic growth."
Finally, she noted that, "both governments will actively support such cooperation and help to remove regulations and obstacles that interrupt investment and cooperation."
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