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30 Years of UAE-Korea Ties Marked in Seoul
UAE Amb. Al- Maainah Hosts Grand Reception
UAE Ambassador to Seoul Abdulla Mohammed Al- Maainah (left) and his spouse, Mrs. Aida Al-Maainah (right), cut the cake with S. Korean Finance Minister Yoon Jeung-Hyun and his wife at the reception the UAE envoy hosted in a Seoul hotel on June 15, 2010 on occasion of 30 years of mutial ties.

On the occasion of 30th anniversary of UAE-Korea diplomatic relations UAE Ambassador to Seoul Abdulla Mohammed Al- Maainah and his spouse, Mrs. Aida Al-Maainah hosted a grand reception at Lotte Hotel in downtown Seoul on June 15, 2010.

The dinner reception brought together hundreds of guests nearly from all walks of life.

A host of top foreign envoys serving in Seoul, local government officials, top politicians, prominent businessmen, artists, journalists, and opinion leaders from other circles were invited to the reception.

In a welcoming speech, Amb. Al-Maainah emphasized the growing importance of the bilateral collaboration and mutual exchanges between UAE and South Korea.

Among the VIP guests was South Korean Minister Yoon Jeung-Hyun of the Ministry of Strategy and Finance.

UAE Amb. Abdulla Mohammed Al- Maainah (3rd from left) and S. Korean Finance Minister Yoon Jeung-Hyun (to his right) pose with other foreign envoys at the reception the UAE envoy hosted in a Seoul hotel on June 15, 2010 on occasion of 30 years of ties.

Minister Yoon made a congratulatory speech.

The bilateral ties between the UAE and South Korea has developed by leaps and bounds since they established full diplomatic relations in June, 1980.

As recently as a month earlier, the two countries launched "Korea-UAE Business Council" to further strengthen already brisk business ties.

The launching ceremony of the business council held at a Seoul hotel on May 27, 2010, was joined by Crown Prince of Abu Dhabi, Gen. Sheikh Mohammed bin Zayed bin Sultan Al Nahyan, and by South Korean Prime Minister Chung Un-Chan.

Scores of major South Korean and UAE businesses are the founding members of the council: They include Hyundai Motors, SK, LG, GS, Doosan, STX from Korea and Mubadala Development Company (Mubadala), a leading business development and investment company based in Abu Dhabi, Advanced Technology Investment Company (ATIC),
and state-run Etihad Airways.

UAE Amb. Abdulla Mohammed Al- Maainah (center) and his spouse, Mrs. Aida Al-Maainah (2nd from left), poses with his embassy staff at the reception the UAE envoy hosted in a Seoul hotel on June 15, 2010 on occasion of 30 years of mutial ties.

The business council was formed in the wake of South Korea's winning earlier this year of 20-billion-US-Dollar deal to export nuclear power plant to UAE.

UAE Amb. Al-Maainah was instrumental in the successful conclusion of the gigantic business deal before, during, and even after the transaction.

The South Korean Embassy was built in Abu Dhabi in 1980. About seven years later, the UAE opened its own embassy in Seoul.

Since the establishment of diplomatic ties, the two countries have been developing bilateral relations in the spheres of economics, politics, and cultural exchange.

In particular trade between South Korea and the UAE has grown sharply over the past five years.

UAE Amb. Abdulla Mohammed Al- Maainah (center) and his spouse, Mrs. Aida Al-Maainah (to his left), poses with The Seoul Times Chairman Yun Ik-Han, and its Vice Chairman Park Young-Ho, and with other guests at the reception the UAE envoy hosted in a Seoul hotel on June 15, 2010 on occasion of 30 years of mutial ties.

The bilateral trade volume mounted to 24.9 billion US dollars in 2008, great leap from 9.8 billion dollars in 2004.

UAE imports South Korea’s electronic products, textiles, automobiles, and auto parts.

UAE in return exports mainly crude oil to South Korea as it is South Korea’s second largest oil supplier in the world, only next to Saudi Arabia.

A host of South Korean companies are now operating in the UAE. They include POSCO, Daewoo Electronics, STX Construction Company, Doosan Heavy Industries & Construction Company, and Samsung C&T Corporation.

About UAE

The United Arab Emirates (UAE) is a federation of seven emirates situated in the southeast of the Arabian Peninsula in Southwest Asia on the Arabian Gulf, bordering Oman and Saudi Arabia. The UAE consists of seven states, termed emirates, which are Abu Dhabi, Dubai, Sharjah, Ajman, Umm al-Quwain, Ras al-Khaimah and Fujairah. The capital and second largest city of the United Arab Emirates is Abu Dhabi. It is also the country's center of political, industrial, and cultural activities.

Before 1971, the UAE was known as the Trucial States or Trucial Oman, in reference to a 19th-century truce between the United Kingdom and several Arab Sheikhs. The name Pirate Coast was also used in reference to the area's emirates in the 18th to early 20th century.

The political system of the United Arab Emirates, based on the 1971 Constitution, comprises several intricately connected governing bodies. Islam is the official religion and Arabic is the official language.

The United Arab Emirates has the world's sixth largest oil reserves and possesses one of the most developed economies in the Middle East. It is currently the thirty-sixth largest economy at market exchange rates, and has a high per capita gross domestic product, with a nominal per capita GDP of $54,607 as per the IMF.

The country is fourteenth largest in purchasing power per capita and has a relatively high Human Development Index for the Asian continent, ranking 31st globally. The United Arab Emirates is classified as a high income developing economy by the IMF.

The United Arab Emirates is a founding member of the Cooperation Council for the Arab States of the Gulf, and a member state of the Arab League. It is also a member of the United Nations, Organisation of the Islamic Conference, the OPEC, and the World Trade Organization.

For more information contact the Embassy of the United Arab Emirates in Seoul at 790-3235.




 

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