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Gamea, South Korea ambassador discuss future cooperation
6 October 2020  -  Organization :  -  Sector/Entity :  -  Category : General

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The government seeks to exchange experiences with South Korea and establish new joint development projects.

Cairo- Oct 6, 2020

Minister of Trade and Industry Nevine Gamea has received Hong Jin-Wook, the new South Korean ambassador in Cairo, to discuss the future of economic relations between the two countries, as well as other issues of common interest.

The minister said that the meeting dealt with Korean investments in Egypt, characterized by diversity. She added that the government seeks to exchange experiences with South Korea and establish new joint development projects, which will bring about a breakthrough in economic ties with the Asian country.

“The ministry is keen to provide all support for South Korean companies operating in the Egyptian market, especially that South Korea is a key partner for Egypt,” Gamea noted.

Wook, for his part, confirmed his country's keenness to enhance economic cooperation with Egypt during the coming period, pointing out that Korean companies eye Egypt as one of the most important investment destinations in the Middle East and Africa.

Official data show that Egypt-South Korea trade hit $1.595 billion last year, and that the top traded goods between them include: engineering and electronic products, furniture, ready-made clothes, chemicals, fertilizers and medical industries.

Korean investments in Egypt stand at about $570 million in 181 projects operating in the fields of: industry, services, construction, communications, information technology, tourism and agriculture.

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