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.