The UAE has inked an agreement with South Korea to bolster the partnership between the SMEs in the two countries and promote entrepreneurship. Both the countries will strive to develop an encouraging business ecosystem to support SMEs and improve relations between their private sectors. The deal also aims to boost bilateral trade from the current US$9.4 billion to a minimum of US$20 billion within 3 to 5 years. In January 2022, Etihad Credit Insurance, the UAE’s federal export credit agency, signed an agreement with Korea Trade Insurance Corporation to boost investment in the development of sustainable green energy.
