El-Sisi’s October tour advances cooperation in trade, technology and manufacturing
Egypt signed 20 agreements and memoranda of understanding during President Abdel Fattah El-Sisi’s visits to South Korea, Malaysia and Indonesia from October 6 to 11, as Cairo seeks to expand trade and attract investment from Asia.
In South Korea, Egypt and Seoul upgraded their relationship to a strategic partnership and agreed to launch negotiations on a Comprehensive Economic Partnership Agreement. The two sides signed 12 agreements and memoranda covering areas including shipbuilding, clean energy, power infrastructure, information and communications technology and social security. Defence cooperation was also discussed.
In Malaysia, the two countries announced the elevation of their relations to a strategic partnership and exchanged four memoranda covering investment, tourism, higher education and women’s empowerment.
The Indonesian leg produced four memoranda covering maritime affairs and fisheries, statistical cooperation, a strategic partnership action plan, and visa exemptions for holders of diplomatic, service and special passports.
During talks in Jakarta, El-Sisi and Indonesian President Prabowo Subianto also agreed to work towards raising bilateral trade to US$5 billion by 2030.
The agreements form part of Egypt’s wider effort to strengthen economic partnerships beyond its traditional markets. Their impact will depend on how quickly the commitments are translated into projects and commercial activity.
