“Egypt, with its strategic location linking three continents, the Suez Canal — which serves as a hub for global trade routes — its huge population of over 100 million people, and the Egyptian government’s bold economic reforms, is a key strategic cooperative partner to the Republic of Korea,” he stressed.

The ambassador made his statements during his participation in the Korean Economic Development Cooperation Fund’s (EDCF) Egypt-Korea high-level policy dialogue that was held on Sunday in Cairo at the Ministry of International Cooperation.

The EDCF policy dialogue was held to exchange views on bilateral development cooperation with the participation of a host of officials from both countries.

The event was attended by Minister of International Cooperation Rania Al-Mashat and representatives from the Ministry of Transportation, National Authority for Tunnels, and the National Railways Authority.

It was also attended by delegations comprising members of the Korean Ministry of Economy and Finance and the Korean EXIM bank that are visiting Egypt from 21 May to 1 June.

Hong affirmed that bilateral Korean-Egyptian development cooperation has become very active recently, especially after the latest steps taken by both countries in this regard, according to a statement.

The Korean government has recently designated Egypt as an Official Development Assistance (ODA) priority partner for 2021-2025. Both countries also signed three documents in the presence of both the Korean and Egyptian presidents on Egypt’s E-procurement system, he added.

Furthermore, the two sides signed an agreement to modernise the Luxor-High Dam railway line during former Korean president Moon Jae-In’s historic visit to Egypt in January, the ambassador said in a statement.

Both countries also witnessed the conclusion of a K-9 self-propelled howitzer contract, he further noted.

Additionally, the ambassador said he is looking forward to witnessing more and more meaningful results from these great bilateral ties and Korea’s participation in some of Egypt’s national mega projects, including the manufacturing and maintenance of 320 trains for Cairo’s second and third metro lines.

He also thanked Al-Mashat and her ministry for their “untiring efforts in enhancing bilateral ties and development collaboration,” requesting the minister’s continued support for the Republic of Korea.

Hong expressed his hope that the policy dialogue format between the two countries will continue to be held on a regular basis in the future to engage in a fruitful exchange of views on pending issues and to explore future areas for the two countries to work together, opening up new avenues.

For her part, Al-Mashat said there were many significant documents that were signed during the historic visit of former Korean president Moon Jae-in to Egypt in January.

She also said that in addition to the field of transportation, in which cooperation with Korean companies is growing, the Egyptian government is looking forward to more contributions from the Republic of Korea in new areas including the transition to a green economy, especially in light of Egypt’s hosting of the 27th UN Conference of Parties on Climate Change (COP27) in Sharm El-Sheikh this November.