The Kingdom of Bahrain and the Republic of South Korea with a current yearly trade volume of $1billion are seeking ways and means including the signing three MoUs during the historic visit by South Korean Premier Jung Hon-won to double or triple the bilateral trade figure, a top South Korean Diplomat told The24X7News.
“During the first-ever visit by any South Korean Prime to Bahrain which kicks off on Sunday, both sides will discuss possible co-operation in hydroponic and vertical agriculture technology, security, training, human resources development, anti-terrorism, IT, trade, investment and other vital areas,” Charge d’Affaires at South Korean Embassy Joonha Yu in an exclusive interview said.
“Since the establishment of diplomatic ties between the two countries in 1976, both have had strengthened the relationship by working side by side on all regional and international issues,” Ambassador Yu said, adding that since 1970’s many South Korean companies have had used Bahrain as a gateway to the Middle East.
“Bahrain’s strategic location and link through causeway to the world’s largest economy Saudi Arabia and plans of linking all countries in GCC through rail network have further reinforced Bahrain’s strategic position. South Korea as a strategic move wants to bolster bilateral ties. Bahrain and South Korea also had direct flights between Manama and Seoul till 1990, paving the way for the private sectors of both sides to work closely,” he said.
South Korea, which closed its mission in late 1990’s after being hit hard by Asian currency crisis, had reopened its mission in Bahrain after 12 years in 2012. “Bahrain was among the over 20 countries where South Korea shut its missions due to Asian currency crises,” he said.
“We would like to revive our old ties with Bahrain and the visit of the South Korean Premier was a part of that strategy by working side by side in health, public health, bio chemistry, IT, technology, transportation, telecom and banking sector in addition to the agriculture, security and other areas of mutual interests,” he said.
In addition, he said, the new government on South Korea has a special emphasis on enhancing co-operation with time tested allies including Bahrain in trade, investments and technology.