Egyptian, S. Korean presidents discuss boosting economic cooperation

0 Comment(s)Print E-mail Xinhua, October 21, 2020
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CAIRO, Oct. 20 (Xinhua) -- Egyptian President Abdel-Fattah al-Sisi received on Tuesday a phone call from his South Korean counterpart Moon Jae-in, during which they discussed boosting bilateral relations and economic cooperation.

During the talks, Sisi said he valued the ongoing partnership with South Korea and the successful South Korean investments in Egypt, said the Egyptian presidency in a statement.

Sisi also expressed the desire to promote Egypt's trade relations with the Asian country, in light of the mega development projects being carried out in Egypt and the investment opportunities that Egypt provides in its Suez Canal Economic Zone, said the statement.

For his part, Moon said that his country looks forward to "enhancing bilateral relations at various levels, especially in the economic field, and increasing the volume of South Korean investments in Egypt in light of the economic growth Egypt is witnessing."

Moon added that Egypt's massive development progress "opens several new horizons for investment cooperation between the two countries."

The two leaders also discussed a number of regional issues of mutual concern as well as means of boosting medical cooperation to enhance the efforts to combat the COVID-19 pandemic.

This year marks the 25th anniversary of the establishment of the diplomatic ties between Cairo and Seoul.

South Korean investments in Egypt currently amount to about 2 billion U.S. dollars, according to a recent statement by South Korean Ambassador to Egypt Hong Jin-wook. Enditem

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