(MENAFN- Daily News Egypt) South Korea and Egypt are seeking to strengthen their economic ties through increased cooperation in project development. A seminar held in Cairo on August 28 brought together government officials, business leaders, and experts from both countries to discuss potential partnerships.

The“2024 Korea-Egypt Project Plaza Seminar” organised by the Embassy of the Republic of Korea in Egypt, in partnership with the Korea Trade and Investment Promotion Agency (KOTRA) and the Export-Import Bank of Korea Cairo office, was held at the Four Seasons Hotel Cairo at Nile Plaza.

The seminar aimed to enhance cooperation between Korea and Egypt in project development. Attendees included representatives from key Egyptian government agencies, including the Ministries of Transportation and International Cooperation, as well as major companies. From Korea, around 45 companies from various sectors, including energy, engineering, construction, electronics, and transportation, attended either in person or online to explore opportunities for project cooperation.

Ambassador Kim Yonghyon noted Egypt's active infrastructure development across sectors such as the New Administrative Capital, urban development, transportation, environment, energy, and maritime. He highlighted the potential for significant synergy between Egyptian and Korean companies, given the latter's extensive experience and capabilities.

Ambassador Kim emphasised that Korean companies are already active in Egypt's manufacturing sector, producing electronics and smartphones, and have achieved successful collaboration in areas such as nuclear power plants, transportation infrastructure, and oil refinery construction.

“These development projects have the potential to create significant synergy through collaboration with Korean companies, which possess extensive experience and capabilities,” said Ambassador Kim.

He expressed hope that the seminar would lead to increased Korean corporate contributions to Egypt's development and strengthen economic cooperation between the two countries.

The various projects introduced at the seminar are crucial for Egypt's sustainable development and long-term economic growth, said Ambassador Kim.

A distinguished group of government officials attended the event, including Wael Naem, advisor to the Minister of Transport, and Tamer Taha, advisor to the Minister of Planning, Economic Development, and International Cooperation. The Korean Embassy was represented by Yang Jehyun, Counsellor, and Yi Heondu, Commercial Attache. Also present were Shin Jaehyeon, Director General of KOTRA Cairo Office, and Lee Hyonjong, Director of the Export-Import Bank of Korea Cairo Branch.

Following the seminar, KOTRA will host the“Korea-Egypt Project Business Meeting” from August 28 to September 12, both online and offline. Egyptian government agencies and prominent companies are scheduled to participate and discuss project collaboration opportunities with Korean businesses.

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