CAIRO – Egyptian President Abdel Fattah El Sisi and South Korean President Moon Jae-in witnessed on Thursday, in Ithadiya Palace, inking a number of agreements, memorandums of understanding and documents.
Earlier on Thursday, Sisi received the South Korean leader in an official reception ceremony where the national anthems of both countries were played.
The agreements included a memorandum of understanding inked by the Minister of Trade and Industry Niven Gamea and the South Korean minister of trade, industry and energy to conduct a joint study on trade and economic partnership between Egypt and South Korea.
Also, a memorandum of understanding was inked on financial cooperation with the Economic Development Fund for 2022-2026 worth one billion dollars. It was inked by Minister of International Cooperation Rania el Mashat.
Mashat and South Korean Foreign Minister Chung Eui-yong inked a document for preparations of a loan from the Economic Development Cooperation Fund (EDCF) for the project of upgrading Egypt-Luxor railways and the High Dam at cost of 251 million dollars.
A document of exchanged letters on a non-refundable grant worth 7.9 billion dollars was also signed by Mashat and the foreign minister of South Korea.
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