UAE and South Korea enhance cooperation on tourism

Three memorandums of understandings have been signed between the UAE and South Korea aimed to benefit various sectors of the economy, including tourism.

Small and medium-sized enterprises (SMEs) and tourism are among the various fields the UAE and South Korea have agreed to enhance through bilateral economic relations and mutual cooperation, according to state news agency WAM.

The delegations led by Sultan bin Saeed Al Mansouri, UAE Minister of Economy, and Ilho Yoo, Deputy Prime Minister and Minister of Strategy and Finance of the Republic of Korea (ROK), signed three memorandums of understandings (MoUs) on the side-lines of the fifth UAE-Korea Economic Joint Committee in Abu Dhabi.

The countries discussed ways to strengthen cooperation in various key sectors, including clean and renewable energy, infrastructure, industry, intellectual property rights, finance and public services, healthcare and medical service, education and cultural exchange and tourism.

Al Mansouri noted that commercial exchange between the two countries reached US $8.5 billion (AED31.22 billion) in 2015 despite a slowdown in global economic growth.