Minister of Trade and Industry Tarek Qabil asserted bilateral relations binding Egypt and South Korea are deeply-rooted and strategic.

In statements following his meeting with the South Korean Ambassador in Cairo, Qabil said President Abdel Fattah El Sisi's visit to South Korean in March paved the way for starting a new phase of economic cooperation based on mutual interests for both countries.

Economic relations between the two countries have positively reflected on the volume of joint investments set up in the Egyptian market with a Korean capital and Egyptian labor expertise, the minister said.

He also underlined the importance of pumping more Korean investments to the Egyptian market especially in the field of electronic industries, automobile and its relevant industries.

Qabil also noted that the ministry exerted its utmost efforts to remove any impediments facing Korean investments in the Egyptian market.

The Korean ambassador for his part appreciated efforts exerted by the Egyptian government to promote bilateral relations, noting that Egypt was a basic economic partner for South Korea in the Middle East and North Africa region.

Source: MENA