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Asian tour of Sheikh Hamdan will impact positively on UAE foreign relations: Akhbaar Al Saa

posted on 13/04/2004: 659 views

The current Asian tour of Sheikh Hamdan bin Zayed Al Nahyan, Deputy Prime Minister and Minister of State for Foreign Affairs constitutes a significant overture in UAE foreign policy. "The visit which will include Japan, Korea and China is a significant move which will impact positively on short and long-term UAE's foreign policy, given the strategic, political and economic weight of the three countries” said Akhbaar Al Saa news bulletin, a publication of the Emirates Centre for Strategic Studies and Research (ECSSR). The bulletin pointed out that the visit comes at a time when trade relations between the three countries were fast growing.

"This visit will certainly add more impetus to trade relations between the UAE and these countries,” said the bulletin. Volume of trade exchange between Korea and UAE stood at US$ 7 billion by 2002 and top officials from Korea have been visiting the UAE, notably the visit of the Korean Prime Minister in 200. Since establishment of diplomatic relations in 1980 between the two countries, bilateral cooperation have developed significantly and the UAE now occupies the 14th position with regard to the volume of trade with the Republic of Korea.

Korea is considered the 2nd largest Asian trade partner with the UAE after Japan. The number of Korean companies and firms in the UAE reached 44. Meanwhile, non-oil trade between UAE and Japan stood in 2002 at more than US$10 billion. Trade exchange with China is equally growing with trade exchange reaching US$11.5 billion in 2002. The high-level delegation accompanying Sheikh Hamdan in the tour is a further evidence that the UAE attaches greater importance to this visit, said the bulletin. (The Emirates News Agency, WAM)


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