UAE, Qatar Seek New Gulf-Asia Trade Corridor in Landmark Agreement with South Korea

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, EuroNews.com reported. 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.

United Arab Emirates
Qatar
South Korea
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World Bank Says Saudi Arabia and Qatar Have Paid Off Syria's Outstanding Debt

The World Bank said Friday that the $15.5 million Syria owed it has been paid off by Saudi Arabia and Qatar, clearing Damascus to take out new loans, the Associated Press reported. Saudi Arabia and Qatar had announced plans last month to clear Syria’s outstanding debts, a move that Syria hailed as paving the way for recovery and reconstruction after a 14-year conflict that killed half a million people and caused wide destruction in the country.
Syria
Saudi Arabia
Qatar
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