South Korean Leader’s Visit to UAE Strengthens Energy Ties

Nuclear power and Energy were said to be the principal topics of discussion between South Korean President Moon Jae-in and officials of the United Arab Emirates (UAE), as the South Korean leader said he is seeking to push the corporation between the two nations “to new heights.”

The South Korean leader recently arrived in Abu Dhabi where the UAE Minister of Energy Suhail Al-Mazrouei greeted him.

President Moon said that the visit would “boost friendship and cooperation between Korea and the United Arab Emirates amidst volatile international situations.”, when responding in writing to questions posed by the United Arab Emirates’ state-run WAM news agency.

One of the main areas of cooperation is Energy as South Korea is building the Barakah nuclear power plant in Abu Dhabi. This is Seoul’s first attempt to build an atomic reactor abroad and Arabian Gulf’s first such facility.

The first reactor in Barakah is expected to come online this year.

The Korean president during his visit told WAM that the nuclear power collaboration was ‘first and foremost’ among the sectors he anticipates to strike up stronger partnership between both nations.

Moon wrote that the Barakah nuclear power plant is not simply a mega construction project worth $18.6 billion but also the first such deal for Korea in the Arab world.

He said that he plan to make a stop at the construction place during his visit to the United Arab Emirates, to see for himself the achievement of bilateral collaboration and the potential for growing cooperation in the nuclear power sector.

The Korean president also said that he sees opportunities for collaboration in areas such as science and technology and healthcare.

The visit to the UAE marks the first time Moon will visit the Middle East since his inauguration as president in 2017.

According to WAM, the Abu Dhabi Fund for Development (ADFD) signed a partnership deal with the Export-Import Bank of Korea (KEXIM), to help in developing the structure of the United Arab Emirates’ National Export Program during President Moon’s trip.

The director general of ADFD, Mohammed Saif Al-Suwaidi said that the National Export Program will support to cover the financial gap and enable healthy export opportunities for national companies.

The first phase of works on the National Export Program began in July 2017 with the Abu Dhabi Fund for Development assigning the Korean Development Institute as a professional consultant to run viability study examining the need for the UAE-based export program.

Leave a Reply

Your email address will not be published. Required fields are marked *