Minister of International Cooperation, Rania Al-Mashat, leads the Egyptian delegation at the Korea-Africa Summit in Seoul, representing President Abdel Fattah Al-Sisi. This summit, hosted by South Korean President Yoon Suk Yeol, brings together leaders from 48 African nations to foster stronger partnerships and development initiatives across the continent.
The summit marks a significant milestone in the growing relationship between Egypt and South Korea. President Al-Sisi’s visit to South Korea in 2016 and the reciprocal visit by the South Korean president to Egypt in 2022 have driven advancements in various sectors. South Korea has designated Egypt as a strategic partner in its development cooperation plans for the Middle East and North Africa region, solidifying this expanding partnership.
This collaboration builds on a $1 billion memorandum of understanding signed during the 2022 visit, supporting development projects in Egypt from 2022 to 2026. South Korea is a key development partner for Egypt, with a longstanding economic relationship dating back to 1987. Their current development cooperation portfolio totals $1.3 billion, with significant contributions from the Korean International Cooperation Agency (KOICA).
KOICA grants support crucial sectors in Egypt, including higher education, vocational training, information technology, and women’s economic empowerment. Additionally, soft development funds are directed towards infrastructure projects like railways and metro systems, fostering knowledge transfer and technological advancements.
Minister Al-Mashat’s participation in both the Korea-Africa Summit and the subsequent Korea-Africa Business Summit underscores Egypt’s commitment to strengthening partnerships for development across Africa and with South Korea. This summit presents a valuable opportunity to explore new avenues of collaboration and solidify these important relationships.
