Moon expressed Seoul’s interest in increasing its investments in development and infrastructure projects The pair discussed cooperation in railway development, an important priority for the Egyptian state CAIRO: Egyptian President Abdel Fattah El-Sisi and his South Korean counterpart Moon Jae-in discussed issues of mutual concern on Thursday during the first visit by a South Korean president to Cairo in nearly 16 years. El-Sisi praised the depth of relations between the two countries, stressing the importance of working to activate the comprehensive cooperative partnership between them in a manner commensurate with their capabilities. Moon expressed his happiness visiting Egypt for the first time, thanking El-Sisi for his warm reception and hospitality, and expressing keenness to continue coordination and consultation between in various fields, as well as looking forward to developing and strengthening South Korea’s relations with Egypt in light of its pivotal role providing stability and security in the Middle East and Africa. He also expressed Seoul’s interest in increasing its investments in major development and infrastructure projects and elsewhere in Egypt. The pair discussed cooperation in railway development, an important priority for the Egyptian state. They also discussed the localization of the electric car industry in Egypt and how South Korea could assist with the “Decent Life” initiative, launched by El-Sisi to develop poorer villages and governorates in Egypt, in addition to cooperation in energy production, in light of the two countries’ keenness to diversify and secure their energy sources. Moon and El-Sisi also discussed ways to enhance military cooperation, especially with regard to joint manufacturing and the transfer and localization of technology, in light of Egypt’s strategic role in the region and South Korea’s advanced technological capabilities and military industries. In a press conference, El-Sisi expressed Egypt’s desire to attract Korean companies and investments, with Cairo’s readiness to provide all the necessary facilities to create a promising environment, and to encourage an increase in Korean investments in major development and infrastructure projects, as well as in energy, mining, transportation, communications and information technology. El-Sisi indicated that he agreed with Moon on the importance of strengthening joint cooperation to support the Egyptian vision of the Fourth Industrial Revolution, whether through the establishment of a branch of the Korean University of Advanced Science and Technology, or cooperation between the ministries of communications and information technology in using artificial intelligence. He explained that his talks with the South Korean president reviewed partnership opportunities between Egyptian companies operating in Africa and Korean companies, and promoted investment in Africa, highlighting the opportunities offered by the Continental Free Trade Area to increase investment and trade flows between African countries and the international community. The Egyptian presidency said in a statement that the talks also witnessed a review of the developments of a number of regional and international issues of common interest, including the Libyan crisis. El-Sisi stressed that stability in Libya is a priority and that Egypt will continue its tireless efforts with Libyan parties to hold national elections. The president also affirmed Egypt’s permanent support for all mechanisms that guarantee the security and stability of the Korean Peninsula. Moon praised Egyptian political efforts in maintaining security and stability in the Middle East and Africa, especially with regard to Egyptian moves to reach a political settlement of crises in the region, as well as its tireless efforts, led by El-Sisi, to combat terrorism and extremist ideology, as well as spread the values of coexistence and tolerance in the region, strengthening bridges of dialogue between African and Arab countries with the rest of the world. The two presidents witnessed the signing ceremony of a number of memoranda of understanding between their countries in trade and economic partnership, development cooperation, and railways. The Korean president’s visit to Egypt concludes his tour of the region, which included visits to the UAE and Saudi Arabia.