South Korea-Egypt signs agreements to work together on several fields

Egyptian President Abdel-Fattah al-Sisi during his visit to South Korea, partner Moon Jae-in approved the cooperation to support and boost numerous fields of Egypt’s vision, as per the Presidency office of Egypt.

This was the first visit by the South Korean President in the past 16 years, as per Bassam Rady, the representative of the Egyptian presidency.

Moon’s visit to Egypt, which will last there until January 21, is a part of his regional tour that contains the United Arab Emirates and Saudi Arabia.

“This visit comes in a framework of their mutual interest in consulting and exchanging their point of views on several topics and issues of common interest, as well as working to build relations of cooperation between Egypt and South Korea,” Sisi said.

The two leaders signed several memos of understanding (MOUs), including the one-billion U.S. dollar deal on financial cooperation from 2022 to 2026 between the two nations and a 251-million-dollar loan by South Korea to elevate the Luxor-High Dam railway line.

However, the two sides also signed a deal to endow eight million U.S. dollars to Egypt.

Egypt aims to attract South Korean industries and investments in some major development projects and infrastructure projects and energy, mining, transportation, communications, and information technology.

The two leaders also discussed the vast prospects and presented them by starting work in the Continent Free Trade Area.

Moreover, they discussed and exchanged views on regional and international issues of mutual interest.

For his part, Moon called the Egyptian role a cornerstone in protecting the safety and peace in the Middle East and Africa by reaching political settlements for the regional crisis.

He also discussed Egypt’s problems in combating terrorism and extremist views and prevailing the province’s values of co-existence and patience.