Bilateral Talks with the UAE and Indonesia
DPM CHOO Has Bilateral Talks with the UAE and Indonesia
Deputy Prime Minister Kyungho CHOO had bilateral talks with Abdullah Bin Touq Al Marri, Minister of Finance of the United Arab Emirates (UAE), and Luhut Binsar Pandjaitan, Coordinating Minister of Maritime Affairs and Investment of Indonesia, in separate settings, on the sideline of the World Economic Forum (WEF) held in Davos, Switzerland on January 17-19 to exchange views on bilateral economic cooperation.
The bilateral talks with the UAE
The bilateral talks with the UAE were held on January 18 to discuss major issues, including follow-up steps of the Korea-UAE summit held in Abu Dhabi, the UAE on January 15.
The two ministers agreed that the recent summit[1] is expected to provide a significant momentum to further expand the bilateral economic cooperation. They also pledged to reinforce the role of the Korea-UAE Joint Economic Committee (JEC), a bilateral inter-ministerial channel for economic cooperation, with a view to putting into action the outcomes made during the summit.
To that end, the two ministers shared a consensus to upgrade the existing areas of partnership, including energy and nuclear power, and expand the scope of partnership in cutting-edge emerging industries, such as bio and aerospace, in addition to defense and cultural content.
Moreover, the two ministers concurred to hold the 8th Korea-UAE Joint Economic Committee (JEC) in Seoul within the first half of 2023 to discuss major bilateral issues.
The bilateral talks with Indonesia
The bilateral talks between DPM CHOO and Minister Luhut Binsar Pandjaitan took place on January 18 during DPM CHOO’s visit to the Indonesia Pavilion[2] held in Davos. This has marked the two ministers’ first meeting since they agreed to launch a high-level dialogue channel on investment during the G20 Summit held in November 2022.
Minister Pandjaitan highly recognized the Korea-Indonesia summit for generating the most tangible outcomes among the summit meetings held during the G20 Summit in November 2022. He also expressed his hope that the dialogue channel will become the most rapid and effective decision-making mechanism to implement major cooperation projects agreed on by the two countries’ presidents.
To this end, DPM CHOO requested his support and interest in Korean companies’ investment projects in Indonesia, and Minister Pandjaitan responded that he will also spare no effort to ensure that those projects are smoothly conducted without a hitch.
Based on the consensus reached throughout the talks, the two ministers concurred to hold the first Korea-Indonesia high-level dialogue on investment in Korea in March.
[1] The UAE has decided to invest USD 30 billion in Korea during the summit.
[2] An investment fair hosted by the Indonesian government to attract foreign investment, consisting of exhibitions for the promotion of Indonesian SMEs’ business and on-site meetings with Indonesian public and private officials.
Please refer to the attached pdf.
