President Yoon Suk Yeol and United Arab Emirates (UAE) President Mohammed bin Zayed Al Nahyan have pledged to expand and develop their special strategic partnership.
On the morning of May 30, South Korea’s Presidential Blue House released a joint statement regarding the cooperation. The joint statement was adopted at the bilateral summit held on Al Nahyan’s state visit to Korea on May 29.
The statement summarizes the contents discussed by the two leaders into 19 clauses, including four key areas:
- Economy and investment
- Traditional energy and clean energy
- Nuclear energy
- Defense and defense technology
Yoon and Al Nahyan highly valued the Comprehensive Economic Partnership Agreement (CEPA) signed between the two countries. The two leaders expected that the “CEPA will bring about trade, investment, and economic diversification between the two countries, promoting long-term and sustainable growth.”
Regarding the $30 billion investment plan promised by the UAE in January 2023, the two leaders also stated, “It is important for institutions in the UAE and Korea to expand their market entry and cooperation with each other and to make the most of numerous investment opportunities and incentives.”
The two leaders also reaffirmed their cooperation to meet future energy demand in the energy sector, evaluating that “great progress is being made in the field of clean and renewable energy technologies, including hydrogen and ammonia.”
Regarding nuclear energy, they agreed to promote cooperation in the follow-up reactor projects, joint ventures in third countries, nuclear fuel supply networks, and small modular reactor (SMR) sectors based on the mutual trust built through the Barakah Nuclear Energy Project.
In defense, the two leaders recognized the importance of strengthening defense industry cooperation and agreed to expand cooperation in areas of mutual interest, including cybersecurity and defense research & development (R&D).
In addition, the two countries agreed to expand their touchpoints in the following:
- Space
- Advanced technology
- Intellectual property
- Railway infrastructure
- Cooperation in infrastructure development in third countries
- African development projects
- Climate change
Continuing with the international situation, the two leaders expressed concern about the spread of extreme ideologies and extremism that can promote terrorism and cause conflicts. This indicated their opposition to all forms of extremism.
The issue of North Korea’s nuclear weapons was also included in the last clause of the joint statement.
The statement declared, “The two leaders strongly condemned North Korea’s continuous provocations that undermine the security of neighboring countries and the region, including the recent so-called satellite and ballistic missile launches.”
The two countries expressed their concern about the increase in North Korea’s nuclear threat and demanded North Korea comply with international law and return to the Nuclear Non-Proliferation Treaty (NPT).
The statement further said, “The two leaders urged North Korea to prioritize diplomatic solutions and resume communications with relevant parties for peace and security on the Korean Peninsula, and to dismantle its nuclear weapons in a complete, verifiable, and irreversible manner (CVID).”