Chairman of the Arab Organization for Industrialization (AOI) Abdel Moneim el Tarras asserted the importance of benefiting from Korean expertise and creating real investment opportunities in several modern industrial fields.
Tarras’s remarks came during his meeting on Wednesday with the honorary president of the Korean Egyptian Development Association (KEDA), who is currently visiting Cairo on top of a delegation from South Korea’s biggest companies.
An agreement has been reached with the Korean side to form a joint technical committee with the aim of studying the prospects of joint cooperation in the fields of renewable energy, electronics and transport, among others.
The Korean delegation visit aims to consider making Egypt as a center for technology localization, where Korean products are manufactured and exported to Arab and African states.
Meanwhile, the Korean official said KEDA’s cooperation with the AOI targets that Egypt would be a scientific industrial base in the Arab and African regions.
He also congratulated Cairo on its chairmanship of the African Union in 2019.
He said Egypt will be a super power after the economic reforms being introduced, attributing this to the country’s vision 2030 under the leadership of President Abdel Fattah El Sisi.