The United Arab Emirates signed a new trade agreement with South Korea the day after it left OPEC, cutting tariffs on most traded goods, seeking an increase in trade exchanges and cementing economic ties between the two countries, as part of a wider push by the Gulf states towards Asia.
The agreement marks South Korea’s first trade pact with a country in the Gulf Cooperation Council and the wider Middle East and North Africa region, at a time when supply chains and wider geopolitical dynamics are reshaping global trade.
