Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty expressed his hope for the setting up of a South Korean industrial area in the Suez Canal Economic Zone (SCZONE), highlighting Egypt’s ongoing efforts to strengthen the domestic industry and offer legislative and financial incentives to boost investments.
This came during a meeting he had Friday 27/9/2024 with South Korean Foreign Minister Cho Tae-yul on the sidelines of the high-level segment of the United Nations General Assembly annual meetings in New York.
The top Egyptian diplomat said he is looking forward to continuing to develop relations between the two countries in various fields, as well as to advance economic and trade cooperation, noting the progress achieved in joint projects and the increase in of South Korean investments in the Egyptian market during the past period.
He shed light on the promising investment opportunities provided by the major projects being implemented across Egypt, including projects in the New Administrative Capital and SCZONE, as well as the investment opportunities in projects in the fields of hydrogen production, making batteries and electric vehicles in addition to green technology and energy storage.
Abdelatty expressed Egypt’s hope to maintain coordination with South Korea in all multilateral international forums, especially in light of its current non-permanent membership in the Security Council, appreciating the recent Korean stances regarding Gaza war.
He warned of the dangerous developments in the Middle East in light of the mounting Israeli military escalations against Lebanon and the unabated onslaught against the Palestinian people in the Gaza Strip, reiterating Egypt’s complete rejection of letting Israel escape accountability for its actions and act as a state above the law.
He reaffirmed the need for the UN Security Council to assume its responsibilities and take the necessary measures to stop the ongoing war and achieve an immediate, all-out and permanent ceasefire in Gaza and Lebanon, and spare the Middle East the perils of plunging into a full-scale regional war.
