SEOUL: South Korea and the UAE signed a trade pact on Wednesday to sharply cut import duties at a summit of their leaders that pledged closer business and investment ties. 

Host South Korea welcomed the UAE’s President Sheikh Mohammed bin Zayed Al-Nahyan with a traditional honour guard and a flypast of air force jets. 

“The special bond between the two leaders serves as an opportunity to deepen and advance the two countries’ special strategic partnership,” the office of President Yoon Suk Yeol said in a statement. 

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