Page 241 - 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
Comprehensive Economic Partnership Agreement with the Republic of Korea, an
economy driven by the export of its high-quality manufacturing output, will only accelerate

this extraordinary progress and create more opportunities in our own manufacturing,

logistics and transport sectors. The UAE’s CEPA program is helping to enhance trade’s
role in our national growth objectives and leverage the benefits our private sector can

derive from our status as a global trade hub.”

His Excellency Khaldoon Khalifa Al Mubarak, Chairman of the Executive Affairs Authority
and member of the Abu Dhabi Executive Council said: “The UAE-Korea Comprehensive

Economic Partnership Agreement provides an important milestone to the nation’s foreign
trade agenda, strengthening ties with one of the world’s most dynamic and technologically

advanced economies.

This agreement will not only deliver a range of economic benefits, from increased trade to
valuable knowledge exchange, but deepen our nation’s ties with an important partner in

Asia, strengthening East-West supply chains and enhancing our role as a vital
international trade hub.

The UAE’s CEPA program is an integral part of our nation’s diplomatic efforts to build our

foreign relations on the basis of trust and cooperation, and in the interests of inclusive
growth and long-term mutual benefit.”

His Excellency Abdulla Mohammed AlBasti, Secretary General of the Executive Council of

Dubai said: The Comprehensive Economic Partnership Agreement (CEPA) between the
UAE and South Korea reflects the directives of our leadership to expand investment

opportunities and unlock promising business prospects for the private sector. This

agreement reinforces the UAE's global position as an attractive hub for foreign direct
investments, strategic partnerships, and a pivotal player in international trade”.

He added: “This agreement signifies a strategic milestone, fostering new avenues for
economic, commercial, research, and technological collaboration with one of the world's

most prominent economies, valued at $1.7 trillion in 2023. It will be welcomed by the

business community as it helps link our investors to engage in high-potential projects that
are crucial for promoting sustained growth. We eagerly anticipate the increased flow of

goods and services between our ports and free zones, alongside new investments and

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