Korean Economic Delegation to Visit Cairo Next March

Bookmark and Share

Wednesday - 5 February 2020 - 2:0 PM


In March, Cairo will receive a high-level economic delegation from South Korea, including a large number of officials and businessmen, to participate in the Egyptian-Korean business forum and to review ways of strengthening joint economic cooperation between the two countries during the next phase, Signing a number of Memoranda of Understanding between the two countries on technical support for industry and small and medium-sized enterprises.



Neffin Jama, Minister of Trade and Industry, held extensive discussions with Yun Yuchul, South Korean ambassador to Cairo to prepare for a visit by Korea's Minister of Trade to Cairo in February, to discuss ways of strengthening economic and trade relations between Egypt and South Korea during the next phase.



The minister said that there are distinct investment opportunities on the Egyptian market, in front of the Korean business circles, especially in the Suez Canal economic zone, to meet the needs of the Egyptian market and export to the Middle East markets and the African continent. She pointed out the possibility of using the Korean market as a gateway for accessing Egyptian exports to South Asian countries ' markets, as well as the use of the Egyptian market as a gateway to Korean exports reaching African Continent countries ' markets.



She highlighted the importance of enhancing industrial cooperation between Egypt and South Korea, in particular in the field of transferring Korean industrial expertise to Egyptian industry and exchanging Egyptian and Korean experience in the field of small and medium sector growth, expressing the ministry's willingness to resolve all the problems and obstacles that Korean investment in the Egyptian market may face, in order to maintain the Korean business community's confidence in the Egyptian market as one of the region's investment destinations.



Yoon Yeocheol, South Korean ambassador to Cairo, for his part, affirmed the keen interest of his country in expanding the system of joint strategic, commercial, investment and industrial cooperation with Egypt in the coming process, as it is a key country in the Middle East and Africa. He pointed out the importance of translating the distinguished bilateral relations that bind Egypt and Korea to Tangible cooperation projects in the interests of both the Egyptian and Korean economies.



Yoon Yeocheol  pointed out the possibility of cooperation between the two countries in the field of electric car manufacturing in Egypt and exporting to neighboring markets, particularly because South Korea has considerable experience in this regard.