Cairo Chamber, KDI sign cooperation protocol

The Cairo Chamber of Commerce sealed a cooperation protocol with Korea Development Institute (KDI) on Tuesday with a view of developing Egyptian-Korean economic relations.

It also aims to find out new ways to increase bilateral investments as well as the import and export process during the coming period.

The agreement was reached during a visit by a delegation from the KDI led by its chairman to the Cairo Chamber Kang Yong-seok.

During the meeting, Deputy Chairman of Cairo Chamber of Commerce Tarik el Sallab reviewed investment opportunities in the Egyptian market, in light of mega national projects currently being implanted in the country.

He said that the chamber will offer to the Korean side information on the local market and its investment opportunities, adding that hindrances facing Korean investors will be overcome through cooperation between the two sides.

The board of the chamber seeks to boost Egyptian exports to the Korean markets, Sallab went on to say.

Under the protocol, the two countries will exchange delegations and organizing exhibitions and gatherings on enhancing investment cooperation.

For his part, KDI chairman said that his country is keen on developing economic relations with Egypt and having new vistas of investment.

The coming period would witness an increase in Egyptian-Korean trade and investment relations under the protocol, KDI head pointed out, adding that bilateral meetings will be held between Cairo chamber members, KDI representatives and owners of small and medium-sized projects.

Source: MENA