South Korea’s President to visit Egypt for the First Time in 16 Years

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South Korea’s President Moon Jae-in Photo: Flickr

South Korea’s President Moon Jae-in will arrive in Cairo for the first visit of a South Korean President to Egypt in 16 years on Wednesday, 20 January as part of his Middle East tour. President Abdel-Fatah Al Sisi’s invitation was extended for the two presidents to discuss bilateral cooperation in sustainable growth and bolstering future cooperation in various fields.

President Moon’s visit to Egypt is set for three days, as confirmed by the South Korean Ambassador to Cairo Hong Jin-Wook in a press conference on Sunday, with an official reception ceremony and a bilateral summit taking place. The two presidents will also hold a business roundtable to discuss renewable industries and the development of eco-friendly infrastructure.

South Korea and Egypt’s strategic partnership in 2016 has played a role in the advancement of the relationship between the two countries with special regard to the rate of trade exchange. In the latest report issued in December 2021, Egypt’s Minister of Trade and Industry Nevine Gamea highlighted a 46.9 percent increase from January to October 2021, reaching USD 1.89 billion (EGP 29 billion) as compared to USD 1.28 billion (EGP 20 billion) in 2020. The trade exchange between South Korea and Egypt includes oil products, granite, zinc, as well machines, and equipment.

Egypt’s former Minister of International Cooperation Sahar Nasr and South Korea’s first vice foreign minister Lim Sung-Nam sign an agreement in 2016. Photo: Getty Images

Similarly, Egypt’s exports to the South Korean market saw an increase of 62.3 percent, reaching USD 531.5 million(EGP 8.34 billion) in 2021. Egyptian government reports underscore that South Korea is one of Egypt’s most important trading partners

Presidential Spokesperson Park Kyung-mee reiterated in a press conference the importance of the relationship between Egypt and South Korea with Egypt being the international logistics hub and the base country for Korean corporate advancement in Africa.

The post South Korea’s President to visit Egypt for the First Time in 16 Years first appeared on Egyptian Streets.

Source: egyptianstreets