KOTRA Organises Egypt-Korea Cooperation Seminar On Electronics Industry

(MENAFN- Daily News Egypt) The Korea Trade-Investment Promotion Agency (KOTRA) is organizing a seminar and 1:1 business meeting with South Korean companies in the field of electronics industry between Egypt and South Korea. The seminar took place at the Four Seasons Hotel Cairo at Nile Plaza in Garden City, on Wednesday.

The main objective of the seminar and business meeting is to discuss the possibility of enhancing cooperation in the“electronic appliances sector” with relevant Egyptian ministries, authorities, and the private sector. Specifically, this includes the Ministry of Communication and Information Technology (MCIT), the General Authority for Investment and Free Zones (GAFI), and the private sector represented by Elaraby Group.

During the seminar, Egypt's investment environment and incentives will be showcased, along with trends in the electronics industry. Most importantly, the Egypt Makes Electronics (EME) presidential initiative will be highlighted. This initiative aims to position the electronics industry as a key driver of growth in the Egyptian economy.

Ambassador Kim Yonghyon of the Republic of Korea to Egypt will attend the seminar. He has emphasized the strong partnership already established between Korea and Egypt in the electronics industry. Major Korean electronics companies currently produce electronic products in Egypt and export them to over 50 countries worldwide. Additionally, two successful joint ventures between the El Araby Group and Korean companies serve as examples of this robust cooperation.

Ambassador Kim further stated that Korea is a global leader in the electronics industry, dominating the world market in semiconductors, smartphones, displays, batteries, and home appliances such as TVs and refrigerators. With the implementation of the EME initiative, Egypt is on a journey to become a regional and global hub for the electronics industry in the Middle East, Africa, and Europe. Considering these factors, the electronics industry will undoubtedly play a pivotal role in economic cooperation between Korea and Egypt.

Today, the South Korean trade delegation will visit the Elaraby factory in Quesna, Monofeya, to observe the manufacturing plant. This visit aims to encourage South Korean companies to collaborate and supply the Egyptian market with the necessary industry materials for electronic appliance manufacturing.

MENAFN30052024000153011029ID1108275067