Abu Dhabi, Korea to Boost Bilateral Investments.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 KIC Kuwait Investment Company KIC Keep in Contact (alumni programme of Deutsche Post World Net) KIC Ketchikan Indian Community (Ketchikan, Alaska) KIC Keep It Coming , a sovereign wealth fund Sovereign wealth fund (SWF) (Sovereign wealth funds) is a fund owned by a state composed of financial assets such as stocks, bonds, property or other financial instruments. , signed an MoU for cooperation with the Abu Dhabi Investment Authority The Abu Dhabi Investment Authority (ADIA) is one of the biggest government investment authorities in the world, a Sovereign wealth fund. Founded on February 24, 1977 as the first U.A.E. investment company in the capital. , or ADIA ADIA Abu Dhabi Investment Authority ADIA Assistive Devices Industry Association (of Canada) . 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. The UAE is also the largest export market for Korean goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. in the Middle East and North Africa. oHowever, the size of bilateral investment is aeinsignificantAE, which needs to be boosted,o said KoreaAEs Vice Minister for Strategy and Finance Young-Geol Lee, while speaking to reporters on the sidelines On the sidelines An investor who decides not to invest due to market uncertainty. on the sidelines Of or relating to investors who, having assessed the market, have decided to avoid committing their funds. of one-day aeThe UAE-Korea Road showAE organised by the Korea Trade Investment Promotion Agency and the Korea Development Institute The Korea Development Institute is an autonomous economic policy think tank that was set up by the Korean government. The Institute was founded in 1971, during a period of rapid growth, to provide academically rigorous research and analysis of economic policy decisions. . oThe bilateral investment does not reflect the growing economic relations,o said Korean Vice-Minister Young-Geol Lee. Korea, one of the Asian tigers, have invested $380 million in the UAE, while investments made by the UAE companies is also not reflective of their global exposure, he said. However, he added that this visit would open new channels of communication between the two countries to take advantage of the opportunities in both the countries to boost C investments. About the two-day meetings with investors in Dubai and Abu Dhabi, the minister said, oItAEs just a beginning of a fruitful cooperation in the sphere of investments, and expanding cooperation into Islamic finance by introducing Islamic bonds in Korea to C raise capital.o The idea behind the two day visit is to foster cooperation between the sovereign wealth funds and other investment companies and showcase opportunities available in Korea to them. He invited the UAE investors to participate in KoreaAEs plans of investing $850 billion to promote green growth, in next four year to cope with the climate change, in order to achieve economic sustainability. [cedilla ce·dil·la n. A mark ( ¸ ) placed beneath the letter c, as in the spelling of the French word garçon, to indicate that the letter is to be pronounced (s). ] AaAaAaAaAaAaAaAa haseebhaider@khaleejtimes.com Copyright 2009 Khaleej Times. All Rights Reserved. Provided by Syndigate.info an Albawaba.com company |
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