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Egypt, South Korea trade ministers discuss boosting mutual cooperation
7 September 2021  -  Organization :  -  Sector/Entity :  -  Category : General

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The meeting discussed forming a working group to push ahead economic ties between the two countries and especially benefit from Korean industrial know-how.

Cairo- Sep 7, 2021

Minister of Trade and Industry Nevine Gamea has held talks with South Korea's Trade Minister Yeo Han-koo via video conference, to explore ways to enhance economic cooperation between the two countries during the next period.

The meeting also discussed forming a joint working group from both ministries of trade to help strengthen the economic partnership between Egypt and South Korea, as well as facilitating the access of Egyptian agricultural exports to the Korean market.

"Egypt is keen to further expand cooperation with South Korea, mainly in trade, industry and investment," Gamea said, noting that the government seeks to benefit from Korean expertise especially in the field of technological industries in which South Korea enjoys competitive advantages.

According to official data, Egypt-South Korea trade reached $1.51 billion year on year during the first half of the year, up 32.2% from $795.6 million in 2020. Egyptian exports to the Korean market grew 11.3%, reaching $247 million, and Korean investments in Egypt amounted to $570 million in 181 projects in the fields of industry, services, construction, IT, communications, tourism and agriculture.

 

 

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