The Minister for Investment and Foreign Trade, Mohamed Farid Saleh, chaired a meeting of the working group on Egyptian–Korean economic relations, attended by representatives from relevant ministries and government bodies.
The meeting reviewed the objectives of bilateral economic co-operation and considered proposed responses to the requirements of the Korean side, with the aim of maximising the benefits of the strategic partnership between the two nations.
Participating bodies included the International Co-operation Sector of the Ministry of Foreign Affairs, the Ministry of Immigration and Egyptian Expatriates’ Affairs, the Arab Organisation for Industrialisation, and the ministries of industry, transport, communications and information technology, electricity, education, higher education, civil aviation, and petroleum.
During the meeting, Minister Farid emphasised the importance of moving beyond general frameworks towards clearly defined and implementable projects. He instructed the preparation of an urgent technical study to identify priority investment opportunities and sectors ready for implementation.
He also stressed the importance of conveying a clear message to the Korean side, affirming Egypt’s commitment to continuing co-operation and removing any obstacles facing joint investments.
In support of local manufacturing, Minister Farid proposed establishing joint technical training schools in co-operation with the Korean side, with particular focus on the automotive industry. The initiative aims to develop a skilled Egyptian workforce capable of adopting advanced Korean technologies while linking scientific research to the practical needs of industry.
Regarding capital markets, the minister tasked the Financial Regulatory Authority and the Egyptian Exchange with studying a proposal to invite Korean pension funds to invest in the Egyptian stock market, in co-ordination with local investment banks.
Discussions also included proposals to attract leading South Korean investment banks to establish representative offices in Egypt, further strengthening the framework for directing Korean investments towards national development projects.
