Korea, UAE to increase cooperation in energy sector

Korea and the United Arab Emirates (UAE) agreed to step up cooperation in the renewable energy sector, Seoul's Finance Ministry said Tuesday.

The agreement was reached at an online meeting between Finance Minister Hong Nam-ki and the UAE's Economy Minister, Abdulla Bin Touq Al Marri, on Monday, the ministry said in a statement.

Korea and the UAE have held regular talks on economic cooperation since 2006, but Monday's meeting was the first talks since the coronavirus pandemic hit the world, the ministry said.

Hong also asked his UAE counterpart to allow more Korean firms to participate in the UAE's infrastructure projects, according to the ministry.

In June, Korea and the UAE agreed to create a special entry system for businesspeople and other essential travelers as exemptions to entry curbs are being imposed over coronavirus concerns.

The "fast-track" entry has enabled essential travel by businesspeople and others, such as for humanitarian and academic purposes, and exempted travelers from quarantine.

Yonhap