Egypt, South Korea to Cooperate in Transportation, Railway Sectors

The Egyptian and South Korean officials during their meeting. (Egypt Ministry of Transportation)
The Egyptian and South Korean officials during their meeting. (Egypt Ministry of Transportation)
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Egypt, South Korea to Cooperate in Transportation, Railway Sectors

The Egyptian and South Korean officials during their meeting. (Egypt Ministry of Transportation)
The Egyptian and South Korean officials during their meeting. (Egypt Ministry of Transportation)

Egypt discussed with South Korea on Friday ways of supporting and developing joint cooperation in the fields of railways, metro and sea transport.

They also reviewed other projects in progress between them.

Egyptian Minister of Transportation Eng. Kamel al-Wazir met in Cairo with his South Korean counterpart Noh Hyeong-ouk, who is currently on an official visit to the North African nation.

During the meeting, the ministers tackled the projects underway between Egypt and South Korean in the different fields of transport, especially as regards to upgrading the signaling system on the 118 km Naga Hammadi-Luxor line and the 224 km Luxor-High Dam line.

The two ministers also agreed to activate the agreement that was previously signed by Egypt and South Korea to locally manufacture metro train cars in Egypt, the Transportation Ministry said in a statement.

Wazir stressed that the Egyptian government places great importance on improving maritime transport, adding that a comprehensive plan has been implemented to transform Egypt into international hub for trade and logistics.

For his part, the Korean Minister underlined Seoul's keenness on increasing cooperation with Cairo in a number of sectors.

The ministers signed a memorandum of understanding to enhance cooperation in the field of railways and the public and the private sectors.

The agreement also aims at developing cooperation in signaling, communications, control systems and the renovation of railways.

The Egyptian government stressed that developing the railway network focuses on the carriages, railway, updating the traffic signal system, improving safety, installing modern equipment and training workers.

Egypt has in recent years witnessed several railway accidents.



15th Turkish-Arab Economic Cooperation Forum Kicks Off in Istanbul

Aboul Gheit addressing the opening session of the forum (Arab League - X)
Aboul Gheit addressing the opening session of the forum (Arab League - X)
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15th Turkish-Arab Economic Cooperation Forum Kicks Off in Istanbul

Aboul Gheit addressing the opening session of the forum (Arab League - X)
Aboul Gheit addressing the opening session of the forum (Arab League - X)

The Secretary-General of the Arab League, Ahmed Aboul Gheit, stressed the need for Arab-Turkish economic cooperation to extend beyond trade into broader areas that drive sustainable economic development for both sides.

Speaking at the 15th Turkish-Arab Economic Forum in Istanbul, Aboul Gheit emphasized the importance of collaboration in infrastructure, clean energy, green technology, and services such as tourism and fintech. He also highlighted the potential for joint efforts in scientific research and innovation aimed at mutual economic benefit.

Aboul Gheit pointed out the significant growth in trade between the Arab world and Türkiye in recent years. In 2022, Turkish exports to Arab countries amounted to $46 billion, while Arab exports to Türkiye reached $36 billion, representing a notable share of both sides’ overall trade. However, he urged expanding this relationship to include sectors like energy, technology, and logistics, leveraging the strategic geographical position of both regions as a crucial economic bridge connecting Asia, Europe, and Africa.

The forum, themed “Türkiye and the Arab World: A Global Corridor in Investment, Trade, and Technology,” was organized with the support of Türkiye’s Ministry of Treasury and Finance, the Ministry of Foreign Affairs, and other major regional institutions. It aimed to explore new opportunities in emerging sectors such as green energy, fintech, logistics, and capital markets, while addressing the regional and global economic challenges impacting both sides.

Turkish Minister of Treasury and Finance Mehmet Simsek acknowledged the uncertainty facing the global economy, which is limiting growth, especially in global trade. He also noted the rapid advancements in artificial intelligence, which are expected to reshape industries and societies. Simsek emphasized the need for Türkiye and the Arab world to capitalize on their potential for economic integration, particularly in this time of global economic shifts.

For his part, Egyptian Finance Minister Ahmed Kojak underlined Egypt’s efforts to ensure financial stability, production growth, and export competitiveness. He pointed to Egypt’s role in regional cooperation, highlighting initiatives such as the electricity grid connection with Saudi Arabia, which showcases the potential for regional collaboration in energy.

Tunisian Minister of Economy and Planning Samir Abdelhafidh focused on the advantages of developing economic corridors between Türkiye and the Arab world, particularly through free trade agreements, while Iraqi Finance Minister Taif Sami Mohammed stressed Iraq’s openness to cooperation with Türkiye, noting the country’s strategic position for global trade.

In turn, Kuwaiti Finance Minister Noura Suleiman Al-Fusam highlighted the need to remove trade barriers to increase interactions between Türkiye and the Arab world, with a focus on fostering investments.