South Korean President Lee Jae-myung has welcomed Egyptian President Abdel Fattah el-Sisi to Seoul, marking the first visit in 10 years. This visit follows President Lee's trip to Cairo last year to commemorate the 30th anniversary of diplomatic relations between the two countries. In a social media post, President Lee expressed his honor in hosting President el-Sisi, saying that their cooperation will lead to a new path forward.
During the visit, President Lee and President el-Sisi agreed to elevate bilateral relations to a strategic partnership. The two leaders signed and amended a total of 12 cooperation documents. Egypt is considered a major economic power in Africa and the Middle East, and a key trading partner for South Korea. The two countries have announced the start of negotiations on a Comprehensive Economic Partnership Agreement (CEPA).
The CEPA agreement will strengthen economic ties between the two nations, with South Korea becoming the first Asian country to sign a social security agreement with Egypt. This will lay the groundwork for extensive economic cooperation beyond trade and investment. President Lee highlighted that South Korean companies are actively operating in Egypt and that the two countries will work together in areas such as shipbuilding and renewable energy.
President Lee and President el-Sisi also discussed regional issues, including the need to restore peace and stability in the Middle East. They emphasized the importance of free and safe navigation for all ships and the smooth flow of international maritime trade. President Lee explained his efforts to reduce tensions and build trust on the Korean Peninsula, and President el-Sisi expressed his full support for these efforts.
The two leaders also agreed to expand cooperation in defense and defense industries. President Lee cited an Arabic proverb, "The companion before the road," saying that South Korea and Egypt have become companions that will forge a new path together. He expressed his hope that the new journey between the two countries will be brighter, with tangible results that benefit both nations.
President Lee's reference to the Arabic proverb reflects the strengthened relationship between South Korea and Egypt. The two countries have agreed to work together in various fields, including economy, energy, and defense. This visit marks a significant milestone in the development of bilateral relations, with both sides committed to deepening their cooperation.
The visit has been seen as a positive step towards enhancing economic and strategic ties between South Korea and Egypt. Both countries have recognized the potential for growth and cooperation, and have pledged to work together to achieve mutually beneficial outcomes. The agreements signed during the visit are expected to have a lasting impact on the relationship between the two nations.
Key points
- South Korea and Egypt have agreed to elevate bilateral relations to a strategic partnership, with a focus on economic cooperation and regional stability.
