Egypt to court South Korean investment: official
Sherif el-Gably - YOUM7 (Archive)

CAIRO: The Egyptian-Korean Business Council will host a meeting Tuesday between business professionals in a bid to increase investment in Egypt, Sherif el-Gably told Al-Ahram Saturday.

A list of investment opportunities in the automobile, energy, transportation and petrochemical industries will be on offer to the South Korean business community as 40 major South Korean businesspeople, along with a number of Egyptian investors, are scheduled to join the forum, he added.

Besides the businessmen from Korea and Egypt, Ministers of Industry Mounir Fakhry Abdel Nour along with the Minister of Investment Ashraf Salman,and the Korean deputy minister of industry who will head the Korean delegation are scheduled to attend, he said, unveiling that numbers of Korean companies prepare to pumping new investments during upcoming period in different economic fields in Egypt.

Fakhry Abdel Nour announced in early August that a cooperation protocol with the Korea Trade-Investment Promotion Agency (KOTRA) would be signed during the event.

According to the Ministry of Foreign Affairs’ website, Egyptian-South Korean economic relations are currently worth $3.1 billion in trade volume. Of this, Egypt exports more than $900 million in goods to South Korea, and imports $2.2 billion in South Korean products.

In late March, the Korea International Cooperation Agency (KOICA) signed a $1 million grant agreement with the Egyptian Education Development Fund (EDF) to help support a vocational training center.

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