Egypt’s President Abdel Fattah Al-Sisi received a high -level Korean business delegation, on Wednesday. The delegation comprises of 20 businesspersons visiting Egypt from 8 to 10 October. The Korean delegation was accompanied by Minister of Investment and International Cooperation, Sahar Nasr and Korean ambassador, Yeocheol Yoon.
The president showed a strong commitment to promoting bilateral cooperation with Korea, ambassador Yoon told Daily News Egypt. He added that president Al-Sisi listened to Korean companies about the challenges they face in Egypt.
“The president grasped the details about the current status of bilateral cooperation. Al-Sisi also expressed his hope for much closer cooperation across different fields, including the auto industry, manufacturing sector, and infrastructure,” the ambassador mentioned.
The Korean business mission affirmed the trust of the Korean business community in the Egyptian economy, as one of the most stable economies in the Middle East region, the ambassador reassured.
Moreover, Korean exports to Egypt recorded $1.133bn in the first 8 months of 2019 while Korean imports from Egypt stood at $102m in the same period, according to latest statistics from Korea International Trade Association.
In 2018, Korean exports to Egypt hiked by 39.4% reaching $1.8bn while Korean imports from Egypt increased by 248.8% last year reaching $313m, the statistics added.