Mashat: Portfolio of economic co-operation with South Korea hit dlrs 1.3 bn

Egypt’s International Co-operation Minister Rania Mashat said the total portfolio of economic co-operation with South Korea reached dlrs 1.3 billion.

She underlined the depth of the Egyptian-S.Korean ties as a model of strong relations.

She made the remarks while delivering a speech at the Korean-African Summit on behalf of President Abdel Fattah El Sisi.

The summit was chaired by South Korean President Yoon Suk Yeol and President Mohamed Ould Ghazouani, President of the Islamic Republic of Mauritania, with the participation of 48 African countries represented by heads of state and government.

South Korea has played a prominent role in implementing numerous successful projects in Egypt, particularly after the Korean government classified Egypt as a priority partner in development co-operation and injected additional diverse funding to enhance economic, developmental, and investment co-operation between the two countries, she added.

She affirmed Egypt’s aspirations to explore new horizons to expand and enhance its strategic partnership, contributing to achieving progress and prosperity.

During the summit, she conveyed greetings of President Abdel Fattah El-Sisi to the participating leaders and dignitaries at the summit.

Mashat also extended sincere thanks to the government of the Republic of Korea for the warm reception and congratulated them on the successful organisation of this summit, which Egypt welcomes as an important step towards enhancing Korean-African cooperation.

She underlined the importance of collaboration to find new and non-traditional financing resources amidst the ongoing global economic crisis affecting development efforts, as well as working towards comprehensive reform of the global financial system to assist developing countries in bridging the financing gap and meeting their needs for sustainable development, seeking solutions to the accumulated debt crisis in Africa, enabling the continent to regain economic momentum, including debt-for-development and green transformation programmes.