Egyptian Minister of Trade and Industry Nevine Gamea affirmed the state’s keenness to push joint economic co-operation with South Korea to new highs.
She noted that South Korea is one of Egypt’s most important trading partners in the East and Southeast Asia region.
South Korea is important for the transfer advanced expertise and technologies to local industry, the minister said during a virtual meeting yesterday with South Korea’s Trade Minister Yeo Han-koo.
The visit by President Abdel Fattah el Sisi to the Korean capital, Seoul, in 2016, paved the way to a new phase in ties between Egypt and South Korea in various fields and at all levels, the minister added.
Gamea and the South Korean minister discussed possibilities for enhancing bilateral co-operation in energy, environment, localisation of electric cars in Egypt, human resources development, mining and industry.
The discussions also dwelt on access for Egyptian agricultural produce to the South Korean market.
Trade exchange during the first 10 months of this year rose 46.9 per cent, to $1.9 billion, compared to $1.3 billion in 2020, Gamea said.
In the same period, Egyptian exports to South Korea increased by 62.3 per cent to $532 million from $328 million last year.
Both countries trade in aluminum, cars, cement, furniture, granite, marble, medical equipment, petroleum products, pharmaceuticals and ready-made clothes.
For his part, Yeo said his country appreciates the economic reform programme launched by Egypt six years ago.
Economic reforms push growth to 3.6 per cent last year despite the coronavirus pandemic, Yeo said, adding that the South Korean government is keen to enhance co-operation with Egypt trade, investment, industry, energy, health and confronting the Covid-19 crisis.
Yeo also called for Egyptian support for Korea’s application to the Bureau International des Expositions (BIE) to host Expo 2030 in Busan from May 1 to October 31, 2030.
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