President Lee: “Korea and Egypt elevate ties to a strategic partnership, announce launch of CEPA negotiations”

[Financial News] President Lee Jae-myung held a summit at the Blue House on the 8th with Egyptian President Abdel Fattah el-Sisi, who was visiting South Korea on a state visit. The two countries agreed to elevate their relationship to a “strategic partnership” and expand cooperation across various fields, including the economy, industry and defense. In particular, they officially announced the launch of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) and will broaden cooperation in shipbuilding, clean energy and advanced technology. It is the first visit to South Korea by an Egyptian president in 10 years.
After meeting with Egyptian President el-Sisi at the Blue House on the 8th, President Lee said in a joint press statement, “Today in Seoul, we issued a joint statement elevating relations between our two countries to a strategic partnership, and agreed to turn the agreements reached so far into tangible results that the people of both countries can experience.”
He added, “Through this summit, our two countries achieved meaningful results in five major areas, and signed and revised a total of 12 cooperation documents.”
First, the two countries agreed to pursue CEPA negotiations in earnest to establish an institutional foundation for economic cooperation. After agreeing last year to pursue the agreement, they made the start of negotiations official at this summit. President Lee emphasized, “I expect this agreement to be concluded soon and provide a solid foundation for expanding economic cooperation into a wide range of areas, in addition to trade and investment between our two countries.”
He also explained, “South Korea is the first Asian country to sign a social security agreement with Egypt. This will ease the burden on workers dispatched between the two countries of paying pension contributions twice, and we expect it to further promote companies’ operations and business activities in each other’s countries.”
In the industrial sector, expanded cooperation in shipbuilding, energy and information and communications technology (ICT) was cited as a key outcome. The two countries signed a memorandum of understanding (MOU) on shipbuilding cooperation and agreed to expand efforts to develop Egypt’s eco-friendly shipbuilding industry, drawing on South Korea’s shipbuilding expertise.
They also signed MOUs on clean energy cooperation and power infrastructure cooperation. Through these, they will pursue cooperation on the energy transition, reliable power supply and stronger energy security. They will also broaden cooperation in digital fields such as artificial intelligence (AI), high-speed internet and cybersecurity, based on an ICT cooperation MOU.
In defense and the defense industry, the two sides recognized the joint production of K9 self-propelled howitzers as a successful example of cooperation and agreed to expand cooperation in the future.
President Lee emphasized, “President el-Sisi and I agreed that the joint production of K9 self-propelled howitzers has become a successful model of defense industry cooperation between our countries. President el-Sisi spoke highly of our strong defense industry capabilities, and I told him that I hoped our cooperation in the defense industry would develop beyond simple exports of weapons systems into a mutually beneficial partnership that strengthens the capabilities of the Egyptian military and helps expand Egypt’s industrial base through local production and technology cooperation.”

The two countries will also strengthen cooperation in culture and education. They agreed to designate next year as the “Korea-Egypt Year of Mutual Cultural Exchange” and promote exchanges between their peoples. The Grand Egyptian Museum signed separate cooperation MOUs with the National Museum of Korea and the National Agricultural Museum of Korea, and the two countries also revised their MOU on higher education cooperation for the first time in 10 years.
The two sides also agreed to coordinate diplomatically to promote peace and stability on the Korean Peninsula and in the Middle East. The two leaders said they would work for a swift restoration of peace in the Middle East, including the Gaza Strip, and reaffirmed that the smooth flow of international maritime logistics and the free and safe navigation of ships are important.
President Lee said, “I conveyed to President el-Sisi our government’s firm belief that creating a peace in which there is no need to fight, rather than winning a fight, is the surest and strongest form of security.” He also reported that President el-Sisi had spoken highly of the South Korean government’s efforts to promote peaceful coexistence on the Korean Peninsula and expressed his full support.
President Lee said, “Following last year’s 30th anniversary of diplomatic relations between our countries, President el-Sisi’s visit to South Korea after 10 years, and the reciprocal visits by the leaders of our two countries within a year, Korea-Egypt relations have been elevated to a ‘strategic partnership,’ opening a new chapter in our cooperation. I hope this new journey our two countries will take together shines even brighter, like the S.H.I.N.E. Initiative for the Middle East that I announced at Cairo University last year.”
[email protected] Choi Jong-geun Reporter