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The United Arab Emirates and South Korea have concluded talks towards a bilateral trade deal, known as a Comprehensive Economic Partnership Agreement (Cepa), the two countries said on Saturday.
Trade and investment ties between the Gulf state and South Korea have been steadily advancing; in the first half of 2023, bilateral non-oil trade reached $3 billion, similar to the same period last year, but up 21% over 2021, a statement said.
The Korea Electric Power Corporation and a consortium of Korean firms also constructed all four units of the $20 billion nuclear Barakah Power Plant in Abu Dhabi, which became operational in April this year, to help support the UAE’s domestic electricity needs.
