UAE and South Korea Collaborate to Enhance Economic Relations

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, welcomed Lee Jae-myung, the President of South Korea, at a significant roundtable meeting in Abu Dhabi aimed at enriching economic ties between the two countries. This meeting was a collaborative effort by the UAE Ministry of Foreign Trade, the Abu Dhabi Chamber of Commerce and Industry, and the Federation of Korean Industries.

The gathering featured ministers, high-ranking officials, and business leaders from both nations, focusing on identifying investment prospects and enhancing trade relations. Sheikh Khaled expressed his hopes for the success of President Lee’s visit and the advancement of UAE-Korea relations.

He underscored the UAE’s dedication to fostering transformative partnerships with allied nations, underlining the importance of inclusive growth, sustainable development, and a thriving future for their peoples. He asserted that boosting trade, investments, and sector collaborations lays a solid foundation for achieving these mutual aspirations.

The Crown Prince referred to the robust strategic partnership between the UAE and South Korea as exemplary in international diplomacy. He drew attention to the Comprehensive Economic Partnership Agreement (CEPA), signed in May 2024, which has facilitated significant advancements in bilateral economic, trade, and investment dynamics. This agreement intends to dismantle trade obstacles, enhance mutual growth, and broaden prospects for both public and private sectors.

During the talks, the emphasis was placed on furthering cooperation for the benefit of both nations’ citizens. The UAE’s delegation included prominent figures such as Khaldoon Khalifa Al Mubarak, Chairman of the Executive Affairs Authority and CEO of Mubadala Investment Company, along with other senior officials and business leaders.

President Lee’s delegation included senior officials from significant Korean industries. The discussions explored various investment possibilities and facilitators within both markets. The Emirati delegation encouraged Korean entrepreneurs to leverage the UAE's robust investment climate, particularly in the industrial domain, which is growing under the Operation 300bn initiative to boost its contribution to the GDP from AED 133 billion to AED 300 billion by 2031.

Multiple bilateral meetings took place between Emirati and Korean firms in related sectors, fostering targeted investment collaboration. Non-oil trade between the countries has seen a steady rise, reaching USD 6.6 billion in 2024, marking an 11.4 percent increase from the previous year, and demonstrating continual growth over the prior years. The first half of 2025 continued this positive trend, with trade hitting USD 3.14 billion, showcasing the strength of the economic alliance.

The roundtable reinforced mutual understanding, stimulated investments, and solidified both nations' commitment to sustainable development, trade growth, and enduring economic collaboration.