UAE, Korea review latest situation in world oil market, hope quick recovery of global economy

H.E. Mohammed bin Dhaen Al Hameli, Minister of Energy, held talks yesterday with visiting South Korean Prime Minister Han Seung-soo over mechanisms of further bolstering the distinguished economic and trade partnership and cooperation especially in the oil and gas sector and other energy fields.
The Korean premier asserted the vital role the UAE is playing in supplying world and Korean markets with sufficient oil and gas products. This, he said, would help the global economy to recover and stimulate economic development in Korea.
The UAE minister affirmed that the UAE would continue to pump the required investment in projects aimed boosting oil and gas output capacity. He highlighted the role of the Korean companies in the development of the UAE oil industry. As the two sides reviewed the latest developments in the world oil market, they expressed their hope for quick recovery of the global economy from the implications of the international financial crisis. – Emirates News Agency, WAM