Korea Anticipates Cooperation Expansion with Egypt including Fields of Renewable Energy and Space
In a statement issued by the Korean Embassy in Cairo today, the Korean ambassador said that since Egypt became a priority partner country in official development assistance (ODA) in 2021, development cooperation between the two countries continued to be strengthened.
South Korean Ambassador in Egypt, Hong Jin-wook, met with the Minister of International Cooperation, Dr. Rania Al-Mashat, today on December 27. The two sides exchanged their views on the results of bilateral development cooperation this year, in addition to discussing ways to enhance bilateral development cooperation.
He pointed out that the volume of bilateral development cooperation continues to expand, including the memorandum of understanding on financial cooperation worth o1ne billion dollars from the Cooperation Fund for Economic Development (EDCF) signed in January this year, and $460 million from the Cooperation Fund for Economic Development EDCF in a contract for the manufacture and supply of metro vehicles. Tunnels with Hyundai Rotem.
He went on to praise the success of bilateral development cooperation; according to him, it not only helps promote Egypt’s economic development but also contributes to improving the quality of life of the Egyptian people. He expressed his hope that this bilateral cooperation will expand in the future to include areas such as renewable energy, space, and aviation.
For her part, Minister Rania Al-Mashat extended her gratitude to the Korean government for its tireless efforts in enhancing bilateral cooperation, including designating Egypt as a priority partner country in official development assistance.
She also expressed her happiness that development cooperation through the Korea International Cooperation Agency (KOICA) and the Economic Development Cooperation Fund (EDCF) has become more active than ever, amid the continuous profitable cooperation between the two countries, and stressed that the continuous pursuit of cooperation together is important to maintain on this momentum.
During the meeting, the Korean Ambassador and Minister Rania Al-Mashat agreed on the importance of finding more development cooperation projects in various fields to promote profitable cooperation between the two countries, and they promised to continue close contact in this regard.