- The meeting focuses on advancing the joint economic partnership between Egypt and South Korea.
- Dr. Mohamed Farid Saleh:
- Economic relations between Egypt and South Korea are witnessing significant development during the current period.
- There are broad opportunities for cooperation in the fields of investment, industry, supporting startups, venture capital, and major industrial projects.
- Egypt-South Korea Comprehensive Economic Partnership Agreement (CEPA)will contribute to supporting investment flows and enhancing bilateral trade.
- Chargé d’Affaires of South Korea Embassy:
- South Korea places great importance on strengthening economic cooperation with Egypt at the present stage.
Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade (MIFT), met with Mr. Choi Byung-sun, Chargé d’Affaires of the Republic of Korea Embassy in Cairo, and his accompanying delegation, to discuss ways to strengthen the economic partnership and expand cooperation in investment, trade, and industry.
The meeting comes within the framework of supporting economic cooperation between Egypt and South Korea by identifying viable investment opportunities in priority sectors, contributing to attracting foreign direct investment and strengthening the strategic partnership between the two countries.
The Minister affirmed that economic relations between the two countries are witnessing notable progress, highlighting broad opportunities for cooperation in investment, industry, support for start-ups, venture capital, and large-scale industrial projects.
He explained that the Egyptian government is working to transform the proposed areas of cooperation into concrete investment opportunities and implementable projects, noting that a number of Egyptian entities have already submitted initial proposals that are being developed into detailed action programs with clear objectives and mechanisms.
The Minister added that cooperation between the two countries also extends to enhancing bilateral trade and expanding export opportunities, particularly in sectors where Egypt seeks to deepen local manufacturing, thereby supporting economic competitiveness and broadening the production and export base.
He added that areas of cooperation include regulating trade, overseeing exports and imports, developing risk management systems, exchanging trade data in line with international best practices, and benefiting from the Korean experience in supporting and developing exports and trade promotion. Cooperation also extends to collaboration between trade promotion agencies to open new markets and organize international exhibitions and events.
The meeting also addressed proposals submitted by the Korean side in the fields of electronic cards, information technology, innovation, and industrial cooperation, noting that Egyptian authorities are reviewing these proposals and transforming them into practical programs and initiatives to support economic and investment cooperation.
The Minister indicated that there is a direction toward launching negotiations on Egypt- South Korea CEPA during the current year, following the signing of a memorandum of understanding to prepare for the negotiations. He emphasized that this agreement will support investment flows and enhance bilateral trade.
On his part, Mr. Choi Byung-sun affirmed that South Korea places great importance on strengthening economic cooperation with Egypt, noting the formation of a joint working group following the Korean President’s visit to Egypt to follow up on the implementation of joint initiatives. He also expressed the aspiration of Korean companies to expand their investments in the Egyptian market, particularly in the industrial, technological, and export sectors, in a way that supports the strategic partnership between the two countries.
