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Anticipation high for stronger S. Korea-UAE friendship, cooperation upon Emirati leader's state visit 첫 방한 UAE 대통령 국빈 맞이 ‘특별 전략적 동반자 관계’ 심화 방안 논의 기대 Indeed this inaugural state visit by UAE President Sheikh Mohammed bin Zayed Al Nahyan is fueling much anticipation about prospects of greater partnership between Seoul and Abu Dhabi. Our senior correspondent Oh Soo-young covers these prospects. Ahead of President Yoon Suk Yeol's bilateral summit on Wednesday with UAE President Sheikh Mohamed bin Zayed Al Nahyan, experts and media are expecting a detailed follow up on their pledge last year to elevate bilateral ties to a special strategic partnership. On Monday, Emirates News Agency said the two countries' partnership promises to unlock new frontiers, noting that trade and investment between the two sides have already seen a significant increase. Bilateral trade in non-oil sectors hit 5-point-three billion dollars in 2023 --12.5 percent increase on-year. But there's more room for growth, as both countries move towards the Post-Oil era. "With South Korea’s diverse areas of expertise, the potential for cooperation is limitless: nuclear energy, semiconductors, reusable batteries, automobiles, handsets, beauty, as well as bio, defence, space and aerospace. Also, the UAE is in need of a strong manufacturing base. In this regard, a South Korean industrial complex would build R&D centers and factories in the country. This could help the UAE reshape its industrial structure to support and expand exports of its domestic goods to the world." Last year during their summit Abu Dhabi, the UAE leader promised to invest 30 billion U.S dollars in South Korea's strategic industries. The two governments in October concluded a bilateral trade pact removing tariffs on over 91 percent of all items traded over the next ten years. Seoul says, on top of furthering cooperation in trade, energy, and nuclear power, defense will be another major summit agenda on Wednesday. "Due to the threat posed by North Korea and its nuclear weapons program, South Korea has made strenuous efforts to achieve self-sufficiency in national defence over the past seven decades. Following the United States reducing its military presence in the Middle East, the UAE has been aiming to reduce its security dependence on one particular country. Instead of engaging in only weapons sales, South Korea and the UAE would be able to reduce various geopolitical risks by jointly developing their arms industries, and engage in more strategic and joint operations together." Yoon's office has said the UAE is the only country in the Middle East with which Seoul has established a "special strategic partnership" with, likening their solidarity to an alliance. "Rather than engage in competition, the two countries must join together in solidarity in order to maximise both their national interest.Korea’s technology and human resources combined with UAE’s capital, enterprising spirit and global nature, both countries can become a pivotal force through their exemplary case of solidarity -encouraging peace and prosperity across the Middle East and Northeast Asia." With the first every visit of an Emirati leader's monumental visit to Seoul, the Emirates News Agency said the two sides are poised to demonstrate what development and prosperity paragons can do as partners. Oh Soo-young, Arirang News. #YoonSukyeol #UAE_President #MohammedbinZayedAlNahyan #SouthKorea_UAE_SUMMIT #special_strategic_partnership #윤석열 #UAE대통령 #Arirang_News #아리랑뉴스 📣 Facebook : / arirangtvnews 📣 Twitter : / arirangtvnews 📣 Homepage : https://arirang.com/ 2024-05-28, 14:00 (KST)