Korean companies export $700m of “Made in Egypt” products to Africa, Middle East annually

Published 29 Nov,2020 via Daily News Egypt - In a virtual ceremony from Egypt’s Great Pyramids of Giza, the Korean Embassy in Cairo launched celebrations marking the 25th anniversary of diplomatic relations between South Korea and Egypt.

Korean Ambassador in Cairo Hong Jin-wook took the unusual step of playing Egypt’s national anthem himself on the saxophone, while a group of Egyptian artists played the national anthem of Korea.

In a speech to mark the occasion, Ambassador Hong praised the distinguished relations between the two countries, and his aspiration to enhance cooperation and partnership between the two countries in various fields.

He also affirmed that Cairo would remain in the hearts of Koreans as a symbol of freedom and independence. The ambassador pointed to the Cairo Declaration, which was issued on 27 November 1943, and served as the first declaration recognising the Republic of Korea’s independence.

Ambassador Hong pointed out that the cooperation between the two countries has witnessed a huge boom in various fields, with the volume of trade exchange between the two countries increasing to about $2bn.

Egypt has also become South Korea’s main investment destination in Africa, with investments amounting to about $600m.

Moreover, South Korean companies export products bearing the slogan “Made in Egypt” to other countries in Africa and the Middle East, at a value of $700m annually. This and constitutes more than 90% of Egyptian electronics exports.

Ambassador Hong also expressed his hope that the comprehensive cooperative partnership between the two countries would be promoted to new heights. The partnership was adopted in conjunction with the historic visit of Egypt’s President Abdel Fattah Al-Sisi to South Korea in March 2016. It is set to receive a further boost through the Korean President’s visit to Egypt in the near future.

The Korean ambassador affirmed that Egypt’s long-term commitment and significant contributions to spreading peace in the Middle East constitutes an inspiration to South Korea.

He said the Korean government will continue its efforts to achieve complete denuclearisation, and establish a durable and stable peace regime on the Korean Peninsula.

He said that over the past 25 years, relations between the two countries have strengthened at the official and popular level. He added that, based on this solid foundation, the march of cooperation between the two countries will make tremendous leaps over the next 25 years.

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