Page 239 - MOE ENGLISH PR - MAY 2024

5/31/24, 3:19 PM UAE Ministers and officials praise comprehensive economic partnership agreement between UAE and South Korea
seeks to deliver on its Green New Deal, which includes commitments to generate 20
percent of the country’s power with renewables by 2030, and as the UAE meets its own

ambitious Net Zero targets, the CEPA will provide an important mechanism for facilitating

more investment and cooperation in this priority sector.”

His Excellency Dr Sultan Al Jaber, Minister of Industry and Advanced Technology said:

“There are few countries that possess the industrial and technological knowhow of the

Republic of Korea. Its emergence over the last three decades as a major global economy
has been driven in large part by manufacturing exports, including machinery, consumer

electronics, cars and automotive parts, which has helped propel its investment into the
development of an unrivalled advanced technology ecosystem. The UAE is now fully

committed to a similar development path, and a Comprehensive Economic Partnership
Agreement with Korea, which follows a series of MOUs on industrial and technological

collaboration signed in January 2023, will enable our businesses, investors and

entrepreneurs to engage with their counterparts, share knowledge and insights and drive
a new era of growth based on innovation and creativity.”

H.E. Abdulla bin Touq Al Marri, Minister of Economy said: “The Republic of Korea is one of

the major global economies, with a GDP exceeding US$1.7 trillion and a highly developed
mix of industrial, technological and service capabilities. It is an ideal trade and investment

partner for the UAE, one capable of supporting our efforts to diversify the national
economy and our transition to a knowledge- and innovation-based new economy. In light

of the objectives of the “We UAE 2031” vision. The UAE-Korea Comprehensive Economic
Partnership Agreement will create a wealth of opportunities for our private sector, from

accelerated trade flows to investment and economic projects in key sectors such as new

economy, logistics, transport, advanced technology and renewable energy. The latest
CEPA underlines our ongoing efforts towards achieving sustainable economic

development, and will also contribute to enhancing the growing significance of Asia on the

global economic landscape.

Her Excellency Dr. Amna bint Abdullah Al Dahak, Minister of Climate Change and

Environment said: “The Republic of Korea is one of the major champions of agri-tech and

the ongoing transformation of food production systems. Their government is facilitating
private-sector investment into this high-priority arena, which provides a number of exciting

opportunities for partnership, collaboration and knowledge-sharing for our own agri-tech

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