Egypt: Sisi to Yonhap – Egypt Seeks Expanding Cooperation With South Korea

Abdel Fattah el Sisi – currently visiting South Korea – stressed Egypt’s desire to expand cooperation with South Korea in various domains in view of the 2030 development plan and the New Suez Canal projects.

“I would like South Korea to actively invest in Egypt’s various manufacturing sectors,” he said in a group interview with Yonhap News Agency and other local media outlets late Wednesday, shortly after arriving in the country for a three-day stay.

“Egypt has an excellent labor force and has been ranked second in the world in terms of investment earnings rate,” he said.

“Many young people are without jobs,” he said, adding “to resolve this, it is important to revive the economy. From that perspective, if South Korean firms offer jobs to the Egyptian youth, this will create a virtuous cycle.”

Calling for more South Korean investments in his country, he noted that Egypt is the gateway to Africa, with free trade agreements with the Gulf States and a major project to expand the Suez Canal under way. He also advised South Korean firms to build warehouses in his country to serve as a regional distribution hub, adding some of the promising areas of bilateral cooperation include energy, desalination and manufacturing.

He said Korean companies enjoy good reputation, expecting Egypt and South Korea to sign several memos during his visit.

He said the government seeks to remove all obstacles and combat corruption to encourage investors, adding that Egypt is open to all.

Sisi dismissed concerns about the safety of his country, he said, adding “I would like organizations dealing with security to visit Egypt,” he said. “Egypt is a safe place. Some people have expressed unease, but I would like experts to come and see for themselves how freely one can travel there.”

After the Arab Spring revolution, the Egypt under its people’s will and without any foreign interference underwent changes of two regimes, he said, referring to the voting held during this period.

He added that no one can govern Egypt in contrary to people’s will or transcend the presidential term set by the constitution.

Egypt needs more time to reap the fruits of changes which took place over the past few years, he said.

As for Daesh threats and Saudi-Iranian disputes, he said Egypt has repeatedly underlined the importance of a comprehensive plan for confronting peace and stability threats.

He likened Daesh organization to Nigeria’s Boko Haram terror group and other extremist organizations.

He called for drumming up international efforts against terror, underscoring that Egypt’s national security is part of the Arab one.

Source: MENA