Egypt seeks greater S. Korean investment, deeper economic ties: envoy

Egypt is seeking to expand economic cooperation with South Korea and attract greater investment from Korean companies as it pursues sustainable development under its Vision 2030 strategy, the Egyptian ambassador to Seoul said Thursday.

Ambassador Hazem Zaki made the remarks during a reception in Seoul marking the 74th anniversary of Egypt’s July 23 Revolution, highlighting his nation’s efforts to build a “competitive, diversified and sustainable economy.”

“While Korean companies offer advanced expertise and manufacturing capabilities, Egypt offers a big market and a strategic gateway to the markets of Africa, the Middle East and Europe through its unique geographic location, modern infrastructure and extensive network of free trade agreements,” Zaki said.

“It is my conviction that Korean companies can continue to play an important role in Egypt’s economic development efforts while achieving a great benefit as well,” he added.

Noting that Egypt has made progress in developing modern infrastructure and investing in renewable energy despite global political and economic challenges, Zaki said his nation “continues to pursue an ambitious path for comprehensive and sustainable development” under Egypt’s Vision 2030.

Under the strategy, Egypt has sought to promote infrastructure development, renewable energy, industrial growth and foreign investment. The country has also promoted the Suez Canal Economic Zone as a strategic hub for industry, logistics and investment.

Seoul and Cairo are also working to advance negotiations for a Comprehensive Economic Partnership Agreement (CEPA), aimed at boosting bilateral trade and investment.

Zaki highlighted high-level exchanges between the two countries, recalling South Korean President Lee Jae Myung’s visit to Egypt in November 2025 for a summit with Egyptian President Abdel Fattah El-Sisi.

“After the success of this visit, we are certainly looking forward to the upcoming visit of President Abdel Fattah El-Sisi to South Korea this year,” he said.

Zaki said the two nations share a strong commitment to multilateralism and peaceful conflict resolution amid global challenges, expressing hope for making “meaningful contributions to global peace, sustainable economic development, climate action and technological innovations.”