The United Arab Emirates and the Republic of Korea have issued a joint observation at the generation of the Shape Talk over with of President His Highness Sheikh Mohamed bin Zayed Al Nahyan to the Republic of Korea from 28 to 29 Might 2024.
Following is the overall textual content of the joint observation:
“On the invitation of His Excellency Yoon Suk Yeol, President of the Republic of Korea (ROK), His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates (UAE) performed a surrounding consult with to the Republic of Korea (ROK) from 28 to 29 Might 2024.
On 29 Might, His Excellency Yoon Suk Yeol and His Highness Sheikh Mohamed bin Zayed Al Nahyan held a top assembly on the Presidential Place of work. Right through the top, the 2 leaders correct to deepen and extra create the Particular Strategic Partnership between the 2 nations.
The 2 leaders expressed their steadfast loyalty to good strategic cooperation in precedence disciplines together with financial system and funding, standard power and blank power, non violent nuclear power, and protection and protection generation and cybersecurity; in addition to alternative boxes of mutual hobby similar to infrastructure, high-tech business, length, aqua generation, data and conversation generation, SMEs and startups, agriculture, maritime transportation, civil gliding, schooling, tradition and healthcare. Each leaders additionally explored the scope for trilateral cooperation with alternative companions, and exchanged their views on extremism.
The 2 leaders additionally witnessed the signing of a number of oaths and Memorandums of Working out on cooperation within the sectors similar to financial system, funding, standard power, blank power, non violent nuclear power, infrastructure and tradition.
I. Beneficial Cooperation in Key Farmlands
1. Economic system and Funding
The 2 leaders said the robust and ancient financial and funding ties that exist between the 2 nations, and famous that the bilateral non-oil industry reached US$5.29 billion in 2023. The 2 leaders recommended the professional signing of the Complete Financial Partnership Commitment (CEPA), which can nurture long-term, sustainable expansion thru industry, funding and financial diversification between the 2 nations. Being attentive to the real complementarity between the 2 economies, the 2 leaders seemed ahead to the status quo of preferential situations for industry and funding that mirror the rising financial ties that have developed between the 2 nations in contemporary a long time.
Recognising the mutual advantages and the numerous expansion alternatives that the CEPA brings to the UAE and the Republic of Korea, the 2 leaders underlined their loyalty to increasing mutual investments of their nations’ economies and in alternative areas of worth, with a focal point on key sectors, together with infrastructure, high-tech and rising industries, length, data conversation and generation, SMEs and startups, agriculture, and maritime delivery.
Each leaders said that the UAE-Korea CEPA will support East-West provide chains, facilitate two-way FDI flows, and support joint analysis and data change throughout a length of sectors, together with power, complicated production, generation, meals safety and healthcare. Each leaders pledged to support cooperation in protective Highbrow Trait Rights (IPR) in each nations.
Recognising the worth of enforcing sustainable building and evidence-based insurance policies, the 2 leaders reiterated that each nations will collaborate in sharing the fresh statistical ways, together with the utilisation of administrative knowledge and Large Information, in addition to in development a statistical portal to help industry actions.
Moreover, the 2 leaders shared the view that each nations effort to deepen collaboration within the tourism sector, leveraging the original cultural heritage and state of the art applied sciences of the 2 nations to form enriching studies for guests. Thru those joint efforts, the 2 leaders expressed their hope to assemble dynamic partnership that strikes the economies in their nations in opposition to a extra leading edge and inclusive destiny.
The 2 leaders correct to assemble at the robust understructure of the alike financial family members between the UAE and the Republic of Korea. They recognised that nearest the consult with of the President of the Republic of Korea to the UAE in January 2023, those family members have made vital move in sectors similar to transformation generation, scientific gadgets, and hydrogen infrastructure.
With appreciate to civil gliding, the 2 leaders famous that the assurance on an build up in aviation capability in October 2023 was once a significant step ahead in increasing cooperation within the grassland of gliding, and shared the view that the improved wind connectivity would give a contribution to facilitating the change of population and items between Korea and the UAE.
The 2 leaders moreover evaluated a length of joint funding tasks, together with the UAE’s loyalty in January 2023 to speculate USD 30 billion in strategic sectors within the Republic of Korea. UAE entities are recently exploring funding alternatives in plethora of USD 6 billion throughout the UAE-Korea Distant Funding Partnership. As well as, the leaders reiterated the worth of the UAE and Korean entities increasing their presence and cooperation within the alternative nation’s marketplace, and entirely harnessing the diverse funding alternatives and incentives to be had in numerous sectors.
2. Standard Power and Blank Power
The 2 leaders, recognising the worth of power safety and the stableness in world power provide chains, and recommended the status quo of the Complete Strategic Power Partnership (CSEP) in January 2023, which allows joint collaboration throughout all assets of power, together with standard, renewable, and non violent nuclear power.
The 2 leaders correct at the worth of leveraging and broadening this partnership to additional boost up investments in power safety, decarbonisation, weather motion, complicated applied sciences, and famous that the partnership will lend as a key motive force in fostering sustainability and innovation to learn their nations and the wider world public. On this context, each Presidents recognised that the UAE Consensus followed at COP28 equipped the sector with a pathway for a simply, orderly, and equitable power transition which can boost up motion on this important decade.
The 2 leaders shared the view that in combination, the 2 nations are making strides within the disciplines of fresh and renewable power applied sciences, together with hydrogen and ammonia, and are selling accountable nuclear power usefulness, reflecting the shared loyalty to growing a extra sustainable fashion to fulfill destiny power wishes.
On this context, the 2 leaders equipped updates on their efforts and move in deploying and the use of blank and renewable power answers which are central to addressing the demanding situations of weather exchange and decreasing greenhouse gasoline emissions. On this regard, President of the Republic of Korea recommended the UAE’s important position as the primary nation within the Center East and North Africa to decide to web 0 throughout the UAE’s Internet 0 2050 Technique, which was once introduced extreme hour.
3. Non violent Nuclear Power
Recognising nuclear power as an segment of nationwide experience for his or her nations, the 2 leaders underscored the worth of collaborative efforts that support the 2 nations govern global cooperation thru current and complicated nuclear applied sciences and advertise economic development and effort safety month assembly world weather exchange goals. On this context, the 2 leaders recommended the move within the Barakah Nuclear Power Challenge, noting the a success operation of 4 devices on the Barakah Nuclear Power Plant to while.
The 2 leaders welcomed additional cooperation within the grassland of non violent nuclear power throughout the ROK-UAE Top-level Session on Nuclear Cooperation. In keeping with the mutual believe constructed throughout the Barakah Nuclear Power Challenge, the 2 leaders correct to hunt techniques to facilitate possible cooperation in follow-up unit tasks, joint access into 3rd nations, nuclear gasoline provide chain, and Miniature Modular Reactors (SMRs).
4. Protection and Protection Era
Resolved to walk protection cooperation, the 2 leaders famous with delight the cooperation between the 2 nations in facilitating wisdom and experience sharing and in exploring additional alternatives to deal with boxes of ordinary hobby. On this regard, the 2 leaders correct to additional enlarge future-oriented cooperation in all disciplines of protection throughout the Joint Upper Army Committee (JHMC), the usual ministerial-level consultative frame.
Recognising the worth of good protection business cooperation between the Republic of Korea and the UAE, the 2 leaders affirmed the worth of additional consolidating cooperation alternatives in disciplines of ordinary hobby, similar to cybersecurity, protection generation and protection analysis and building (R&D).
The 2 leaders reaffirmed the worth of fostering nearer alignment and engagement on key issues on this regard, together with throughout the Ministries of Overseas Affairs and Ministries of Protection (2+2) consultations.
II. Cooperation in Alternative Farmlands of Mutual Hobby
The 2 leaders correct at the worth of improving bilateral cooperation within the grassland of tradition, and expressed their loyalty to proceeding to create each the Republic of Korea and the UAE as world pioneers within the cultural enviornment. The 2 leaders recognised the worth of leveraging the flow tutorial cooperation between the 2 nations to succeed in extra intensive collaboration within the grassland of schooling.
The 2 leaders correct to additional fortify their cooperation within the folk fitness and scientific disciplines together with prescribed drugs and scientific gadgets. In help of this, the 2 nations are dedicated to advancing change of information and enjoy, coaching and analysis, and inspiring the participation in cooperative actions of bio and scientific execs and organisations.
The 2 leaders favored the robust cooperation within the agricultural sector and correct to conserve and fortify their cooperation in boxes similar to sustainable agriculture, impish farming, weather impish agriculture, seeds, and veterinary medications and scientific instrument, to deliver to support agricultural productiveness.
As one of the vital central pillars of the Particular Strategic Partnership between the UAE and the Republic of Korea, the 2 leaders reaffirmed the nations’ persevered bilateral cooperation on current methods within the grassland of length that experience spanned over just about 20 years. They underscored the worth of non violent usefulness of length, and correct to additional support cooperation thru wisdom change methods in boxes similar to length situational consciousness, outer length applied sciences for sustainable building, length exploration, help of SMEs within the length sector, and to advertise additional utilisation of current length infrastructure in each nations. The leaders took observe of the continued efforts to facilitate cooperation between analysis and educational entities within the grassland, and expressed their delight at the move made on advancing capability development efforts inside the folk and personal domain names in each nations.
The 2 leaders affirmed their zest to cooperate within the grassland of complicated generation, together with AI and 5G, and inspired the industries operating in the ones disciplines to discover funding alternatives and joint tasks. The 2 leaders recommended the status quo of the Strategic Partnership on Business and Complicated Era (SPIAT) in January 2023 and seemed ahead to proceeding collaboration between educational and analysis establishments to interchange studies and visits with the effort of serving the aspirations of the 2 pleasant nations on this grassland.
10. Construction of Science Ability and Cooperation amongst Universities
The 2 leaders underscored the virtue of growing human assets to obtain state of the art applied sciences and correct to advertise cooperation amongst universities within the two nations. Construction in this cooperation, they seemed ahead to collectively nurturing key ability and attractive in collaborative analysis.
11. Highbrow Trait
The 2 leaders reaffirmed the worth of highbrow attribute in fostering sustainable economic growth in accordance with creativity and innovation. Each leaders collectively witnessed vital move made within the courting between the 2 nations throughout the “MoU on Reinforced Cooperation in the Field of Intellectual Property” signed in January 2023. The 2 leaders welcomed the signing of the “MOU on Capacity Enhancement in the Intellectual Property Field” that expanded the segment of cooperation to the educational of examiners along with patent exam.
Recognising the the most important position of Miniature and Medium Enterprises (SMEs) as drivers of economic development and innovation within the two nations, the 2 leaders extremely favored the status quo of the Korea-UAE Committee for SMEs and Startups between the Ministry of SMEs and Startups of the ROK and the Ministry of Economic system of the UAE. The leaders correct to decide to fostering a conducive atmosphere that promotes entrepreneurship, creativity, and sustainable building and to proceeding cooperation to enlarge industry, funding, and industry actions between SMEs of the 2 nations.
13. Cooperation in Railway infrastructure
Underscoring the possible contribution to the mutual building of the 2 nations that signing of the MoU between the Korea Nationwide Railway and the Etihad Rail can assemble by way of growing partnership alternatives within the railway sector, the 2 leaders correct to proceed cooperation on this sector in order concrete results from such partnerships.
14. Infrastructure Construction Cooperation in 3rd Nations
Sharing the view that bilateral cooperation within the infrastructure grassland has performed a vital position within the economic growth of the 2 nations, the 2 leaders correct to enlarge the a success cooperation within the grassland to 3rd nations by way of exploring the techniques to advertise partnership some of the entities of the 2 nations in infrastructure tasks in 3rd nations, and to boost up settingup of funding and industry alternatives in each nations.
III. Cooperation on International and Regional Problems
15. Construction Tasks/Partnership in Africa
Right through their discussions, the 2 leaders underscored that their cooperation might be broadened to walk collaboration with African companions within the continent, that specialize in the advance sector. They correct to interact in persevered discussions, in session with the related companions, to discover probabilities for carrying out sustainable building tasks, which lend the hobby of all respective events and their peoples.
16. International Inexperienced Expansion Institute
Each leaders affirmed the virtue of collaborative efforts to walk sustainable building and inexperienced expansion tasks throughout the International Inexperienced Expansion Institute (GGGI). They correct to discover collaborative tasks with the GGGI aimed toward selling renewable power, development adaptive capability, improving weather resilience, and pursuing sustainable building.
The UAE introduced a contribution of two million bucks yearly for 2 years, establishing in 2024, in opposition to the GGGI’s “core fund,” and the Republic of Korea a great deal valued the UAE’s loyalty. The 2 leaders reaffirmed that help for the GGGI will bolster the global public’s endeavours towards addressing weather exchange and the fairway transition.
17. Circumstance Trade (COP28)
The President of the Republic of Korea congratulated the President of the UAE at the UAE’s a success presiding over the twenty eighth consultation of the Convention of the Events to the United International locations Framework Conference on Circumstance Trade (COP28), and the historical weather assurance, the “UAE Consensus” that marks a unused life of weather motion.
The President of the Republic of Korea additionally recommended the UAE’s management on spearheading the Mangrove Alliance for Circumstance (MAC), an intergovernmental coalition which promotes mangroves because the most powerful nature-based way to deal with weather exchange. By way of becoming a member of MAC, the Republic of Korea demonstrated a willingness to cooperate with the UAE to strengthen world efforts on conservation and recovery of mangroves.
Recognising that weather exchange is a ordinary worry of humankind, requiring pressing and collective motion, the 2 leaders dedicated to proceeding to strengthen weather motion and emphasized the pressing want to conserve the 1.5℃ temperature objective of the Paris Commitment inside achieve. They reaffirmed their willingness to proceed operating in opposition to weather motion, centred across the UN Framework Conference on Circumstance Trade (UNFCCC) processes, to assure efficient implementation in their nations’ respective 2030 Nationally Motivated Contributions (NDCs) and carbon neutrality objectives by way of 2050 and to put up the nearest spherical of NDCs, aligning goals with 1.5℃ and the UAE Consensus.
Each leaders emphasized that finance is a important enabler of all weather move and very important to development self assurance, particularly with the International South. On this context, the Republic of Korea welcomed the monetary word of honour made at COP28 of over $85 billion, together with the ones made by way of the UAE of $30 billion to the ALTERRA and $792 million that has been pledged for loss and harm investment preparations, together with $100 million from the UAE. The 2 leaders additionally recognised that COP28 complicated the dialog round a complete redesign of the global monetary machine to align finance flows with weather objectives, making weather finance extra to be had, obtainable, and reasonably priced and highlighted the want to travel from dialog to implementation.
The 2 leaders additionally reiterated the pivotal position of the Inexperienced Circumstance Investmrent (GCF) in supporting the efforts of growing nations to assemble the paradigm shift in opposition to low-emission and climate-resilient building pathways. They famous the word of honour to the second one replenishment of USD 12.8 billion, which represents the absolute best replenishment of the GCF, and emphasized the worth of enjoyable those word of honour, given the pressing want for weather motion in growing nations. On this context, the President of the UAE welcomed the Republic of Korea’s loyalty of $300 million to the second one replenishment of the GCF.
The 2 leaders resolved to actively paintings in opposition to enforcing the UAE Framework for International Resilience by way of supporting efforts to succeed in the goals on aqua, meals, and agriculture fitness, ecosystems and biodiversity, settlements and infrastructure, poverty eradication and cultural heritage.
Construction at the assurance to ascertain a bilateral UAE-ROK Circumstance Discussion, the 2 leaders pledged that all sides will proceed to fulfill at usual durations to fortify their weather cooperation and implementation of the UAE-ROK Joint Declaration on Circumstance Motion, issued in Abu Dhabi in January 2023. The leaders welcomed the signing of the Framework Commitment for Cooperation on Circumstance Trade between the Executive of the Republic of Korea and the Executive of the United Arab Emirates, which can facilitate action-oriented cooperative endeavours in boxes similar to greenhouse gasoline emission relief and adaptation motion.
The 2 leaders expressed their worry in regards to the unfold of extremism, and extremist ideologies that gasoline terrorism and govern to warfare. They additional expressed their loyalty to addressing extremism by way of selling non violent co-existence and mutual appreciate. On this regard, each leaders emphasized their nations company stance in rejecting extremism in all of its methods and manifestations.
The 2 leaders strongly condemned DPRK’s persevered provocations and ballistic missile launches, together with a up to date so-called “satellite” foundation that put neighbouring nations in peril and undermine steadiness and safety of the pocket and past. Each the UAE and the Republic of Korea expressed deep worry in regards to the heightened nuclear rhetoric by way of the DPRK, and referred to as at the DPRK to appreciate and abide by way of global regulation, and go back to the Non-Proliferation Treaty.
The leaders additionally emphasized the worth of denuclearising the Korean Peninsula thru non violent discussion. On this vein, they advised DPRK to renew discussion with related events, to prioritise diplomatic answers, and to quit its nuclear guns in an entire, verifiable, and irreversible means to deliver relief and safety to the Korean Peninsula.
The President of the UAE expressed gratitude for the nice and cozy hospitality prolonged by way of the President of the Republic of Korea, and invited the President of the Republic of Korea to consult with the UAE within the alike destiny. The 2 leaders correct to fulfill regularly and extra create the Particular Strategic Partnership between the 2 nations.”
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