Cairo – AN-africa
Egyptian President Abdel Fattah el-Sisi concluded an Asian tour on October 12, visiting South Korea, Malaysia and Indonesia, with the signing of agreements and memoranda of understanding aimed at strengthening economic, technological and investment cooperation.
In South Korea, Sisi held talks with President Lee Jae-myung, during which agreements and memoranda of understanding were signed covering social security, information and communications technology, clean energy, industry and maritime cooperation. The two sides also launched negotiations on a Comprehensive Economic Partnership Agreement. Sisi met representatives of 23 major South Korean companies to discuss investment and manufacturing opportunities in Egypt, and called for the establishment of an integrated Korean industrial zone in the Suez Canal Economic Zone.
In Malaysia, Sisi and Prime Minister Anwar Ibrahim exchanged several memoranda of understanding. Sisi also viewed Proton cars and Modenas motorcycles in the presence of representatives of the two companies.
In Indonesia, the visit saw the signing of four memoranda of understanding covering maritime affairs and fisheries, statistical cooperation, an action plan for the strategic partnership, and visa exemptions for holders of diplomatic, official and special passports. During his meeting with Indonesian President Prabowo Subianto, Sisi also announced a target of increasing bilateral trade to $5 billion by 2030.
The agreements reflect Egypt’s drive to deepen its Asian partnerships in industry, technology, energy and trade. The implementation of new investment projects, however, will depend on subsequent announcements and concrete follow-up measures.
