Egypt and South Korea have agreed to begin negotiations on a comprehensive economic partnership agreement, alongside a series of cooperation agreements and memoranda of understanding covering social security, ICT, clean energy, industry and maritime transport.
The joint statement on launching negotiations was signed by Egypt’s Minister of Investment and Foreign Trade Mohamed Farid and his South Korean counterpart during a meeting between President Abdel Fattah El-Sisi and South Korean President Lee Jae Myung.
The two sides also signed an agreement on social security cooperation between the governments of Egypt and South Korea. Egypt’s Foreign Minister and Minister of International Cooperation and Egyptians Abroad Badr Abdelatty signed the agreement for Egypt, while South Korean Foreign Minister Cho Hyun signed for his country.
In the technology sector, Egypt’s Ministry of Communications and Information Technology and South Korea’s Ministry of Science and ICT signed a memorandum of understanding on cooperation in information and communications technology.
The two countries also signed an MoU on clean energy cooperation between Egypt’s Ministry of Electricity and Renewable Energy and South Korea’s Ministry of Climate, Energy and Environment.
An additional MoU was signed between Egypt’s Ministry of Industry and South Korea’s Ministry of Trade, Industry and Resources to strengthen industrial cooperation.
The two sides also signed an MoU on maritime cooperation between Egypt’s Ministry of Transport and South Korea’s Ministry of Oceans and Fisheries, covering cooperation in the maritime sector.
The agreements were signed as part of efforts to expand economic and sectoral cooperation between Egypt and South Korea and lay the groundwork for a broader economic partnership between the two countries.
