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Article: Abu Dhabi, Korea to Boost Bilateral Investments.
- Article from:
- Khaleej Times (Dubai, United Arab Emirates)
- Article date:
- November 8, 2009
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Summary: ABU DHABI u Abu Dhabi and Korea have shown their commitment to boost bilateral investments and to increase economic cooperation by exploring business opportunities that exist in each otherAEs countries.
In this connection, both countries have signed an MoU to clear the way for boosting economic ties and sharing information. Korea Investment Corporation, or KIC, a sovereign wealth fund, signed an MoU for cooperation with the Abu Dhabi Investment Authority, or ADIA.
UAE-Korea bilateral trade has jumped to $25 billion in 2008 up from $6.5 billion in 2002, as Abu Dhabi becomes the largest source of oil and gas for the fuel hungry Korea.
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