Rania Al-Mashat, Egypt’s Minister of International Cooperation, representing President Abdel Fattah Al-Sisi, addressed the Korea-Africa Summit in Seoul, emphasizing Egypt’s commitment to tackling the continent’s challenges and fostering economic development.
The summit, co-chaired by South Korean President Yoon Suk Yeol and President Mohamed Ould Ghazouani of Mauritania, saw participation from 48 African nations.
Al-Mashat underscored the enduring bilateral relationship between Egypt and South Korea, highlighting South Korea’s significant role in numerous successful projects within Egypt. This has been particularly evident after the Korean government designated Egypt a priority partner in development cooperation, injecting substantial funding to bolster economic ties between the two countries.
The total economic cooperation portfolio between the two nations has now reached $1.3bn, with both countries aspiring to further expand their strategic partnership.
The Minister acknowledged the achievements and challenges facing the African continent, noting significant strides in activating the African Continental Free Trade Area and progressing on the 2063 Development Agenda while acknowledging ongoing political, security, and economic challenges.
Al-Mashat emphasized Egypt’s dedication to playing a pivotal role in addressing these challenges, particularly in the areas of development, stability, and reconstruction. She cited Egypt’s leadership within the African Union Development Agency (AUD-AEPAD) and its focus on reconstruction efforts as examples of this commitment.
Al-Mashat called for enhanced economic cooperation among Southern countries, particularly within Africa, emphasizing the importance of shared experiences and successful policies to address common challenges like climate change, declining arable land, and food security.
She highlighted Egypt’s willingness to share its expertise in infrastructure development, citing the Julius Nyerere Hydropower Station in Tanzania as a model project, and stressed the need for knowledge exchange programs in areas likepolicy formulation, economic strategies, and climate change mitigation technologies.
The Minister emphasized the significance of South-South cooperation as a framework for collaboration among developing countries, complementing rather than replacing North-South cooperation. She underscored the importance of international partnerships, particularly in the context of green recovery.
Within the framework of the Korea-Africa partnership, Al-Mashat highlighted Egypt’s commitment to:
- Supporting the implementation of the Second Ten-Year Plan and the African Union’s Agenda 2063.
- Collaborating to find new financing resources and reforming the global financial system to address Africa’s debt crisis.
- Supporting financing for developmental projects and infrastructure in Africa.
- Strengthening the health sector, improving vaccine access, and localizing medical industries in Africa.
- Attracting investments to create jobs and boost economic growth.
- Promoting peace and security, mitigating the effects of conflicts, and supporting the African Union Reconstruction Center.
- Transferring modern technology, particularly in advanced industries, clean energy, and space sciences.
- Developing education systems and addressing the impacts of climate change.
- Establishing a mechanism to monitor the implementation of summit outcomes and allocate resources for priority outputs.
