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Trade minister, Korean counterpart discuss boosting joint cooperation
26 December 2021  -  Organization :  -  Sector/Entity :  -  Category : General

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The virtual meeting explored expanding bilateral cooperation in various fields, including trade and industry.

Cairo- Dec 26, 2021

Minister of Trade and Industry Nevine Gamea has held a virtual meeting with Yeo Han-koo, the South Korean trade minister, to discuss strengthening bilateral cooperation in various fields including: the localization of electric vehicles in Egypt, access of agricultural exports to the Korean market, in addition to energy, environment, industry and training.

“Egypt is keen to further deepen its economic ties with South Korea, which have witnessed unprecedented progress over the past years,” Gamea said, noting that South Korea is one of Egypt’s top trading partners in East and South Asia.

Han-koo, for his part, lauded the fruitful economic reform program Egypt is implementing, which led to a positive growth rate of 3.6% amid the Covid-19 global crisis.

According to official figures, Egypt-South Korea trade grew 46.9% to reach $1.89 billion during the first 10 months of the year, up from $1.286 in 2020. Egyptian exports to the Asian market amounted to $531.5 million, up 62.3% from a year earlier.

The main goods exchanged between the two countries include: petroleum products, cement, marble, granite, aluminum, pharmaceuticals, linen, ready-made garments, autos, machinery metro cars and medical equipment.

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