Bolstering Saudi-Korea ties through ‘Vision 2030’
The National Day anniversary emphasizes the firm rules and principles on which the Kingdom’s great achievements are based. The day is also the culmination of the Kingdom’s growth, development and construction continuing since the era of the Founder King to the current era of well-being achieved under the great leadership of the Custodian of the Two Holy Mosques His Majesty King Salman bin Abdulaziz Al Saud, His Royal Highness Crown Prince Mohammad bin Nayef bin Abdulaziz Al Saud and His Royal Highness Deputy Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud. In spite of the security, economic and political challenges in the region, the Kingdom enjoys a blessed renaissance with security and stability. In every field, the Kingdom proudly stands side by side with the developed countries.
On this occasion, I am pleased to praise the distinguished bilateral relationship between the Kingdom of Saudi Arabia and the Republic of Korea.
Since its establishment in 1962, the relationship has witnessed considerable growth and development extending to all aspects of political, economic, cultural, military, education and health fields. These developments follow the policies and principles stipulated in mutual agreements and memoranda of understanding signed between the two countries, which have been sustained through mutual visits by high-ranking officials.
The official visit of Her Excellency President Park Geun-hye to the Kingdom of Saudi Arabia in 2015 led to the historic summit with His Majesty King Salman bin Abdulaziz Al Saud, starting a new era of bilateral strategic cooperation. This year, a number of agreements and memoranda of understanding were signed to deepen the relationship while mutual visits were exchanged.
His Excellency Prime Minister Hwang Kyo-ahn visited the Kingdom of Saudi Arabia in May, and a visit to Korea was made by His Excellency Minister of Energy and Industry and Mineral Resources of the Kingdom in July to reaffirm partnerships between the two countries.
As for the field of trade, the Kingdom of Saudi Arabia is the fourth-largest trading partner of the Republic of Korea, while Korea is Saudi Arabia’s fifth largest. The trade volume between the two friendly countries marked $30 billion in 2015 and has reached $13 billion this year as of July.
The next stage is to witness further cooperation and a deepened relationship as Korean companies are willing to participate in the Kingdom’s developmental plan as well as “Vision 2030.” Such cooperation and relationship will be accelerated by creating a suitable environment and policies for private sectors to expand their role mainly in investment and to diversify their activities.
Such achievements in the history of our bilateral relations would not have been realized if it wasn’t for the help of Allah and both countries’ rational leadership which stress sustaining bilateral relations.
Once again, I would like to congratulate the Kingdom’s people and the Government under the wisdom and leadership of the Custodian of the Two Holy Mosques His Majesty King Salman bin Abdulaziz Al Saud, hoping that peace and stability will prevail not only in the Kingdom of Saudi Arabia and the Republic of Korea, but all over the world.