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Thursday, 13 May 2021

Egypt keen to enhance economic ties with S. Korea, Sisi says

MENA , Wednesday 9 Oct 2019

Egypt's President Abdel-Fattah El-Sisi said on Wednesday that Egypt aims to open new horizons to boost trade and economic relations with South Korea.

The president reiterated that Cairo is also keen to make use of promising investment opportunities available in the Egyptian market in all fields through attracting new investments or expanding the existing Korean investments in different Egyptian sectors, particularly auto-making, electronics, health and petrochemical.

El-Sisi received a high-level Korean delegation led by Korea's Chamber of Commerce and Industry (KCCI) chairman Park Yong-maan in the presence of the South Korean ambassador in Cairo and Investment and International Cooperation Minister Sahar Nasr.

The president stressed that his country aims to interact directly with Korean investors, underlining Egypt’s different capabilities that have helped Cairo attract foreign investments in terms of free trade agreements linking Egypt to the markets of Africa, the Arab region and the European Union.

El-Sisi welcomed the delegation's visit to Egypt, praising the good ties between the two countries, presidential spokesman Bassam Rady said.

Open discussions were held during the meetings between El-Sisi and the Korean investors on future horizons of economic cooperation in light of the measures adopted by the government on comprehensive economic reforms, Rady added.

The Korean delegation praised the Egyptian state’s ambitious development plans, Egypt’s political will and the pivotal role played by Cairo in Africa to lead development in the continent. 

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