Korea and the United Arab Emirates deepened their ties by having the UAE join in committing to the goals of the Global Green Growth Institute (GGGI).
During President Lee Myung-bak's official visit to the UAE, both countries signed a three-year agreement to boost the green growth sector. According to the memorandum signed on March 13, the UAE government will provide 15 million US dollars in green growth funds over the next three years.
The Global Green Growth Institute will dispatch experts to the UAE to help the government set up low-carbon green growth policy strategies and to conduct research. The GGGI will found a field office for the Middle East and North African to help spread and implement future-oriented growth paradigm projects. It also aims to expand support for Abu Dhabi's Masdar City's development as a "Smart Green City."
In December 2009, President Lee announced plans to establish a non-profit research institute dedicated to development of green growth strategies during his keynote address at the United Nations Climate Change Conference in Copenhagen.
Founded in June 2010, the Global Green Growth Institute has worked closely with countries like Brazil, Ethiopia and Indonesia to pursue green growth. The GGGI intends to transform itself into an official International Organization that operates based on multilateral treaties by 2012.
source: apec-vc Korea
