Egyptian-South Korean Business Council is to discuss means of enhancing mutual relations with South Korea in renewable energy, automotive, and petrochemicals sectors during its 9th meetings in Seoul. Head of the Egyptian part at the council Raouf Ghabbour stated Sunday that the meetings will be held on the sidelines of President Abdel Fattah al-Sisi's visit to South Korea within the upcoming period. He noted that Korean investors consider Egypt as the most prominent market in which they can expand their investments, adding that the major industries in Korea are automotive and electronics. Accordingly, Korean products are expanding in the Egyptian market through those two industries since Egypt is one of the most important and largest consumer of automotive and electronic products in Africa, the official stated. Ghabbour clarified that the share of made-in-Korea autos in the Egyptian market reaches around 33 percent, i.e. around 66,000 autos per year. He stated that the political stability plays vital role in attracting Korean investments to Egypt. Head Ghabbour added that Suez Canal Axe projects -that are set to be established within the upcoming period- will top the agenda of the joint discussions with the Korean side during the visit . During the visit, the Egyptian side is set to showcase the investment opportunities available in the Egyptian market and privileges that the government provided for the investors within the last period.
