Cairo, Seoul agree on pumping Korean investments to Suez Canal EEZ

Minister of Investment and International Cooperation and Board Chairman of the General Authority for Investment and Free Zone (GAFI) Sahar Nasr and President and Chief Executive Officer of the Korea Trade-Investment Promotion Agency (KOTRA) Pyung-oh, Kwon on Wednesday 27/2/2019 signed a memorandum of understanding to buttress investment relations between the Egypt and South Korea.

A statement released on Wednesday by the Ministry of Investment and International Cooperation said the signed MOU between GAFI and KOTRA aimed at setting up a practical framework to enhance bilateral relations and exchange business expertise with the aim of achieving the development objectives of the two countries.

The MOU covered the exchange of information on laws and regulations pertaining to the investment climate in both countries with a focus on facilitating investment and joint projects in both sides. It also outlined means of removing impediments facing the growth of investments and possible solutions in this regard.

Nasr agreed with the CEO of KOTRA on a working plan to support investment cooperation between the two sides as soon as possible especially in the Exclusive Economic Zone (EEZ) of the Suez Canal, infrastructure, small- and medium-scale projects and the automobiles industry.

Source: State Information Service Egypt