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Egypt, Korea Agree to Establish Political, Economic Partnership

Egypt, Korea Agree to Establish Political, Economic Partnership

Friday, 21 January, 2022 - 10:00
Egyptian President Abdel Fattah el-Sisi during his meeting with South Korean President Moon Jae-in in Cairo on Thursday, January 20, 2022. (Egyptian Presidency)

Egypt and South Korea agreed on Thursday to establish an economic and political partnership within an integrated strategic framework for the various aspects and fields of cooperation.

This came during the meeting between Egyptian President Abdel Fattah el-Sisi and his South Korean counterpart Moon Jae-in at al-Ittihadiya Palace in Cairo.

Egypt is proud of the deep ties with South Korea, Sisi told a joint press conference, calling for activating comprehensive bilateral partnership that would serve the interests of both peoples.

He underlined the importance of holding political consultation and strategic dialogue to push forward bilateral cooperation.

Sisi said Egypt looks forward to attract Korean firms to invest in the country and is willing to facilitate their work in the fields of energy, mining, information technology, artificial intelligence.

The visit comes in light of the mutual keenness to hold talks and exchange visions and views on various topics and issues of common concern.

Jae-in, for his part, said his visit to Egypt is special, saying it's the first visit by a South Korean president to Egypt in 16 years.

He underscored the need to establish a comprehensive bilateral partnership that would bring benefits to the two peoples and promote sustainable cooperation in the future.

He said he agreed with Sisi to expand the horizons of economic cooperation, and decided to boost the value of sustainable partnership by allocating $1 billion in the Economic Development Cooperation Fund and work together to exchange development policies and promote innovation.

Seoul will cooperate with Cairo to convince the international community to respond to the climate change issue, Jae-in affirmed, adding that they agreed to bolster cooperation in the fields of renewable energy and eco-friendly infrastructure.

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