South Korea and the United Arab Emirates Strengthen Economic Ties

The United Arab Emirates is engaged in an aggressive campaign to diversify their reliance from the petroleum industry, a common problem for many MENA nations. South Korea’s Presidential Council for Future & Vision signed a memorandum of understanding (MOU) with the Government of Abu Dhabi for a strategic partnership in getting rights to develop oil fields. Bottom line, South Korea needs the energy resources to sustain GDP growth, while the United Arab Emirates needs additional technical resources to achieve partial economic diversification. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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