S. Korea, Kenya Agree on Economic Cooperation

Write : 2016-05-31 20:09:30 Update : 2016-06-01 16:22:21

S. Korea, Kenya Agree on Economic Cooperation

President Park Geun-hye and Kenyan President Uhuru Kenyatta have agreed on major economic cooperation projects during their summit talks on Tuesday in Nairobi.

Under the plans, a 790-thousand-square-meter Korean-style industrial complex will be constructed in the African country while South Korean companies’ advancement into the Kenyan energy market will be also facilitated.

The two leaders shared the view that South Korea is the best partner for implementing Kenya’s national development plan dubbed “Vision 2030.” 

The two also signed 20 memoranda of understanding(MOUs) relating to the envisioned industrial complex as well as in other fields such as energy, science and technology.

Senior Presidential Secretary for Policy Coordination Ahn Jong-beom said with the economic cooperation with Kenya, South Korea’s small firms could secure a foothold to advance into the markets of other African countries and the United States.

Before the summit talks, President Park paid a visit to and laid flowers on the tomb of Kenya’s first president Jomo Kenyatta, who is the father of the current Kenyan leader.

At the Tuesday summit, the Kenyan president proposed that Seoul and Nairobi, which established diplomatic ties in 1964, will further foster and deepen their friendly relations.

In response, Park said that South Korea will share its know-how and experiences of economic development with Kenya, proposing that the two nations strengthen bilateral cooperation.

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