Saudi, UAE businesses battle cash crunch despite anti-coronavirus stimulus    Tokyo Olympics rescheduled for July 23-Aug 2021: Organizing committee    Iran's coronavirus death toll reaches 2,757: Health official    Serie A hits back at Italy sports minister Spadafora over 'bubble' remark    Drop in China's new coronavirus cases; none in Wuhan for sixth day    Coronavirus to drive decline in home prices, more rent freezes in Dubai    Mourinho to take Tottenham training via video amid coronavirus lockdown    Egypt's defender Elmohamady proud of 10-year milestone in England    Facebook users add ‘Stay At Home' frame to profile photos    Egypt's FRA launches policies for micro-finance activity amid coronavirus    UK epidemic is slowing and antibody test could be ready in days, top epidemiologist says    Twitter removes 2 Bolsonaro tweets questioning coronavirus quarantine    Egypt's CBE exempts 5 transaction types from cash deposit, withdrawal limits    Egypt to extend closing mosques over coronavirus fears – minister    El-Tayeb urges Egyptians to stick to coronavirus preventative measures    Egypt, MENA growth forecast at 2.7%, -0.3% respectively: IIF    Prosecution warns of EGP 300k fine or 2-year jail for spreading fake coronavirus news    Al-Sisi discusses joint coronavirus efforts with Abu Dhabi Crown Prince    Saudi Arabia intercepts missiles over Riyadh    Egypt's Central Bank exempts 5 transaction types from new cash deposit and withdrawal limits    Medevac plane explosion kills eight on takeoff from Philippine capital    Arkan Consultants designs New Plan Developments' NAC projects    Tatweer Misr to deliver 2,000 units in Fouka Bay, IL Monte Galala this year    Germany's Merkel shines in virus crisis even as power wanes    Lagging COVID-19 response to shield frail economy: Rouhani    Saudi Arabia shuts entry and exit into Jeddah, brings forward curfew - state news agency    Apple works with US House to release coronavirus app, website    California's houisng market unclear after new restrictions amid coronavirus    Farwell to Egyptian comedian George Sidhom    Weekend's virtual concerts, plays, and festivals people can stream at home    Egyptian comedy icon George Sidhom dies at 81    Shooting Egypt's Ramadan television series in the time of coronavirus    Egyptian court sentences five to death for vandalising gas pipeline, killing nine    Amid coronavirus outbreak, Egyptian Premier League cancellation seems inevitable    Brazilian football stadiums transformed into hospitals to treat coronavirus patients    Stay At Home: Ministry of Culture to publish free books online for public browsing    ‘We are here to boost the morale': Ahmed Zeidan, Egypt's ROOM Art Space& Café    IOC postpones Tokyo Olympics due to coronavirus pandemic    Playing for time    Water effects of the dam    What to watch to kill time in quarantine?    Japan PM Abe agree on delaying the Tokyo Olympics for one year    Ethiopia has not sent Egypt latest designs for GERD: Minister of Irrigation    Al-Sisi appreciates Kenya's support to Egypt's stance on GERD    Nigerien President hails Egypt's diplomatic attempts to reach agreement over GERD    Tom Hanks and wife Rita Wilson announced both test positive for coronavirus    Cairo court acquits Mubarak's sons of stock market manipulation    Egypt's President Sisi pardons some prisoners on 25 Jan. Revolution anniversary    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





South Korea, Egypt discuss inking FTA soon
President Moon Jae-in is keen on visiting Egypt, says ambassador Yoon
Published in Daily News Egypt on 19 - 08 - 2019

Egyptian and South Korean authorities discuss inking a Free Trade Agreement (FTA) to boost trade exchange and joint economic cooperation, said S. Korean Ambassador to Egypt Yeocheol Yoon.
“The future FTA with Egypt will hopefully solve the current issue that faces Korean automotive companies after activating the zero tariffs policy on the European cars which makes the competition unfair,” the ambassador told Daily News Egypt.
This came after DNE attendance of the preparation for the online live stream of the final episode of ‘Assalam Alikum from Cairo' show on Sunday that the embassy supports. The show broadcasts its content in Korean by Egyptian young men and ladies for the Korean people to closely know more about the Egyptian lifestyle.
Egypt and Korea enjoy very strong relations, the ambassador asserted, noting, “the South Korean President Moon Jae-in is keen on visiting Egypt. It would be a good achievement for both countries if the Korean president and his Egyptian counterpart Abdel Fattah Al-Sisi agreed to sign the future FTA over the expected visit by president Moon,” the ambassador mentioned.
President Al-Sisi paid South Korea a historical visit in March 2016, over which both countries agreed on a $3bn financial package for Egypt, the ambassador pointed out.
Major Korean companies are investing in the Egyptian market and supporting the economy with their exports, the ambassador said, adding that there are also few small Korean textile businesses textile hope to increase their investments in Egypt soon.
“We recognise Egypt as a huge country with huge passionate population,” the ambassador asserted, noting that South Korean government pays great attention to training and building capacities of Egyptian youth.
The Korean Technological College which will be inaugurated later this year in Beni Suef will play a vital role in providing the Egyptian market with skilled youth, the ambassador noted, adding that his country will cooperate with Assiut University for training programmes and building capacities.
The economic cooperation with Egypt is very much diversified, including transportation, infrastructure, in addition to other areas, the ambassador mentioned, adding that Hyundai Rotem is already cooperating with Egypt's Ministry of Transportation for new airconditioned trains to the underground which makes the lives of Egyptian people better.
South Korean is also cooperating with Egypt for a $115m project for development of railways, the ambassador mentioned, asserting that transportation is very important area of cooperation between Egypt.
Korea also shares its economic experience with Egypt through Knowledge Sharing Programme that aims at development of each sector, the ambassador said, adding that his country cooperates with Taxation Authority on development of Egypt's taxation system.


Clic here to read the story from its source.