S.Korean amb. in Cairo: Volume of Egyptian-S. Korean trade exchange up to $2B


Thu, 26 Nov 2020 - 12:44 GMT

Exports- Creative Commons cia Pixabay

Exports- Creative Commons cia Pixabay

CAIRO - 26 November 2020: South Korean ambassador to Egypt Hong Yin Wook has said the volume of trade exchange between Egypt and South Korea reached $2 billion.

A statement issued Thursday by the Korean embassy in Cairo, on the occasion of a virtual celebration organized by the embassy to mark the 25th anniversary of establishing Egyptian-South Korean relations said, Egypt has become South Korea's key investment destination in Africa, with total investments worth $600 million.
The South Korean ambassador also said, South Korean companies in Egypt export products labeled "Made in Egypt" to other countries in Africa and the Middle East at an annual total value of $700 million, constituting 90 percent of Egypt's e-exports.
Hong further lauded distinguished ties binding the two countries, voicing hope for enhancing bilateral cooperation in the various spheres, as joint relations are projected to strike a momentous leap over the coming years.
The South Korean ambassador referred to a Comprehensive cooperative Partnership agreement adopted by the two countries and signed during visit of President Abdel Fattahb El Sisi to S. Korea in 2016, hoping that the all-out joint cooperative partnership would witness a new overture during South Korean President Moon Jae-in’s scheduled future visit to Egypt in March.
"Cairo will always remain on the heart of South Koreans as a symbol of freedom and independence, as Cairo Declaration of Nov. 27 1943 was the first declaration acknowledging South Korea's Independence," noted the diplomat.
He point out Egypt's role in support of peace in the Middle East.
During the celebration the South Korean ambassador played the Egyptian national anthem by himself on the saxophone and a group of Egyptian artists played the South Korean national anthem.



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