Korea, Egypt sign cooperation agreement on enhancing SMEs

Egypt and Korea signed Thursday a cooperation agreement on making benefit of Korean expertise to enhance and develop Egyptian Small and Medium-sized Enterprises (SMEs) sector.

The agreement was signed by Egyptian trade and industry minister Tarek Qabil and his Korean counterpart Joo Hyunghwan.

The agreement includes forming Egyptian-Korean group to discuss means of executing the suggestions to develop textiles, information technology, and car components fields. Additionally, the Korean side is to participate in training and developing employees’ skills in those sectors besides exchanging expertise and technologies.

Qabil and Hyunghwan held bilateral discussions in which they showcased the mechanism of deepening mutual trade and economic cooperation.

They also discussed removing restrictions and obstacles facing trade movement and investments between Egypt and Korea as well as solving problems that investors face in both countries.