South Korea has outlined a proposal to the United Arab Emirates calling for more investment co-operation between the two countries.

The proposal calls for the two to “advance together into global markets such as Africa, South America and central Asia by collaborating and melding the UAE’s capital strength with [South] Korea’s technical skills”.

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Park Young-june, the South Korean vice-minister of the economy, stated that if successful, this deal could create a model for investment cooperation.

The UAE and South Korea have each been among the top investors for their respective regions in 2010.