(MENAFN- Daily News Egypt) Egypt's Prime Minister Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with President of the Korea International Cooperation Agency (KOICA), Chang Won-Sam, and his accompanying delegation.
The Prime Minister noted that Chang is the first KOICA President to visit Egypt since 2009, reflecting the mutual desire to strengthen bilateral relations on Political and economic levels.
Madbouly highlighted the prominent position of the Republic of Korea as one of Egypt's distinguished partners in Asia, pointed out that the cooperation between the two countries serves as a unique model for fruitful partnerships, as demonstrated by the implementation of numerous pioneering projects in Egypt, aligned with the country's developmental goals to achieve sustainable development.
The Prime Minister expressed his appreciation for Egypt being selected as one of the five priority partners in the Republic of Korea's Official Development Assistance (ODA) programme. This reinforces the significance of bilateral cooperation and reflects the shared commitment to sustainable development.
Madbouly disclosed that the partnership between Egypt and Korea serves as a model for developmental cooperation, enhancing their ability to address shared challenges.
The Prime Minister also praised the signing of the second phase of the project to enhance educational capabilities and link universities with industry at Beni Suef Technological University, valued at $8m.
He noted that this phase aims to integrate innovative, industry-specific curricula in fields such as mechatronics, information and communication technology, electric vehicles, and railway technology.
He highlighted KOICA's portfolio in Egypt, which has reached approximately $100m, supporting developmental projects in cooperation with the Ministry of Planning, Economic Development, and International Cooperation.
The Prime Minister also expressed his hope for further cooperation with the Korean agency by increasing the number of joint development projects, in line with Egypt's comprehensive development priorities.
For his part, Chang Won Sam, President of the Korea International Cooperation Agency (KOICA), expressed his appreciation for the warm reception extended to him and his delegation during their visit to Egypt, marking his first visit as the agency's president since the establishment of its Cairo office in 2009.
The President of KOICA pointed out that his current visit to Egypt is aimed at evaluating the projects the agency is collaborating on with Egypt and holding consultations with Egyptian officials to enhance cooperation in several key areas.
Chang Won Sam noted that the country has successfully overcome the economic challenges it faced over the past years. He added that Egypt also plays a significant role in its regional and continental surroundings.
Additionally, the President of KOICA mentioned that, as part of the agency's contributions to development programs in Asia, they have allocated funds for development initiatives in Africa. He expressed his desire for Egypt to be one of the key supporters in realizing the agency's developmental vision for the African continent.
He confirmed that Egypt is a key partner for the agency, with the support provided by KOICA to Egypt reaching $90m by 2023. KOICA is also working on implementing six new projects as part of its 2024 project plan in Egypt, focusing on areas such as economic empowerment, capacity building, knowledge exchange, climate, and sustainability.
During the meeting, Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat praised the important role of the Korea International Cooperation Agency (KOICA). She expressed her anticipation for the final approval of several joint cooperation projects for 2025.
The Minister also expressed her desire to explore new areas of collaboration in green energy, advanced technologies, educational reform, and the development of smart infrastructure. She added,“We hope to work together closely to create a roadmap for long-term cooperation, in line with Egypt's Vision 2030, and to benefit from Korea's expertise in digital transformation and innovation.”
She also highlighted the potential for increasing the participation of the Korean private sector in Egypt, with the aim of implementing projects within the framework of public-private partnerships and enhancing broader African cooperation.
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