Egypt, Korea discuss joint cooperation ahead of 2024 Korea-Africa Summit

CAIRO – March 31, 2024: The Ambassador of the Republic of Korea to Egypt, Kim Yonghyon, met with Minister of International Cooperation, Dr. Rania Al-Mashat, on Sunday to explore avenues for enhancing joint cooperation between Korea and Egypt, as stated by the South Korean embassy.

Ambassador Kim acknowledged that Korean companies operating in Egypt are benefiting from recent positive developments in Egypt’s macro-economic situation. He expressed gratitude to Minister Al-Mashat for her leadership and role in concluding a series of agreements with international partners, including the IMF, EU, and World Bank.

Furthermore, he noted that the improved stability of the Egyptian economy would likely encourage more Korean companies to invest in Egypt in the near future.

Ambassador Kim briefed Minister Al-Mashat on the inaugural Korea-Africa Summit scheduled for June 4th-5th this year in Korea, seeking Egypt’s active contribution to its success. He emphasized that the summit would serve as a significant catalyst for enhancing the comprehensive cooperative partnership between the two friendly nations and further strengthening their partnership with African countries.

Expressing hope that the summit, occurring two months into H.E. President El-Sisi’s new presidency, would foster joint cooperation in areas of mutual interest such as green transition and digital transformation, Ambassador Kim conveyed his desire for the well-being of both countries' peoples.

Minister Al-Mashat highlighted the strengthening of cooperation between Egypt and Korea to an unprecedented level in recent years, commending the Korean Embassy's efforts in facilitating various joint projects. Regarding the inaugural Korea-Africa summit, she lauded Korea’s increasing role in the international community and affirmed Egypt's commitment to working together for its success.

Furthermore, she assured that the Ministry of International Cooperation would continue its efforts to reinforce bilateral relations in the coming years by exploring further areas of collaboration between the two countries.