Egypt, South Korea Explore Ways To Expand Cooperation In Transport, Industrial Development
Date
9/17/2024 2:15:19 PM
(MENAFN- Daily News Egypt) South Korea's ambassador to Cairo, Kim Yonghyon, has met with Kamel Al-Wazir, Egypt's Deputy Prime Minister for Industrial Affairs and Minister of Transportation, to discuss strengthening bilateral cooperation in transportation and industrial development.
Ambassador Kim emphasized that Korea and Egypt have been developing close economic cooperation in various sectors, including manufacturing, infrastructure, energy, defence, higher education, and digital government. He particularly highlighted the notable achievements in the transportation sector, such as metro, railway, and tram projects.
Ambassador Kim commended the significant progress made in modernizing Egypt's transportation infrastructure over the past five years under Minister Wazir's leadership, noting that Korean companies have also been able to contribute to this advancement. With Wazir's recent appointment as Deputy Prime Minister for Industrial Affairs, Kim expressed hope that these successes would expand to all industrial sectors. He added that this cooperation would support Egypt's ambitions to become a regional hub for industry and manufacturing.
Ambassador Kim mentioned that Egypt has been a key partner country for South Korea's Official Development Assistance (ODA), with ongoing projects in various fields such as transportation and green infrastructure for the Suez Canal. He proposed identifying and developing new projects in various fields to further expand this development cooperation. He noted that during the Korea-Africa Summit in June, the Economic Development Cooperation Fund (EDCF) support limit for Egypt increased from $1bn to $3bn, which can make a substantial contribution to Egypt's infrastructure expansion and industrial development.
Deputy Prime Minister Wazir stated that cooperation between Korea and Egypt in the transportation sector is highly significant, as it not only forms the foundation for Egypt's economic development but also directly improves the quality of life for Egyptian citizens. He highly appreciated Korean companies' contributions to job creation and exports through their operations in Egypt, while expressing hope for expanded opportunities for cooperation and investment across all industrial sectors.
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