Minister of Finance Mohamed Moeit, Minister of Trade and Industry Amr Nassar, and Minister of Investment and International Cooperation Sahar Nasr are expected to attend the launch of Egypt-Korea Business Council’s (EKBC) first forum after its reestablishment.
A Korean delegation comprising of about 20 companies is attending the forum during their visit to Egypt from 8 to 10 October 2019 to discuss trade cooperation and joint investment opportunities between the two countries in the presence of Yoon Yeocheol, the South Korean ambassador to Egypt.
The Egyptian Businessmen’s Association (EBA) will organise one to one meetings between Egyptian companies and their Korean counterparts during their visit.
Khaled Nosseir, Chairperson of the Egyptian side of EKBC said the council will hold its first round in cooperation with Korea Chamber of Commerce and Industry , in order to define investment opportunities in Egypt and the latest developments in the economy.representatives will also be discussing the current investment climate and industrial opportunities as well as the planned Free Trade Zones and projects in the Suez Canal Economic Zone (SCZone).
The business forum agenda includes a session on automotive feeding industries, spare parts, and how to cooperate with the Korean side , added Nosseir.
Chairperson of the General Authority for the SCZone Yehia Zaki will attend the forum to provide the Korean companies with further information about opportunities in the zone.
The delegation includes companies working in all fields of manufacturing, construction, engineering, logistics, agriculture , consumer electronic goods, commercial air-conditioning, woven fabrics, textile, dyeing, polyester, knitted fabric, medical supplies, waste treatment, automobile, steel, chemical, raw materials, investment project, and machinery, explained Nosseir.
He pointed out that Korean companies are looking for new partnerships with Egyptian businessmen in the sectors of construction, engineering consultancy, financial services, tourism, and hospitality.
Nosseir also asserted that the coming period will witness the EKBC’s active role supporting economic, trade, and industrial cooperation between the two countries, while encouraging Korean investments.
Notably, the volume of trade exchange between Egypt and Korea achieved a significant increase of 52.5% to reach $2.160bn in 2018 compared to about $1.416bn in 2017.