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Korea Seeks to Strengthen Its Partnership with Africa

Korea Seeks to Strengthen Its Partnership with Africa
Delegates making presentations at the 2023 High- Level Conference on Korea- Africa Partnership in Nairobi. Barack odour

Korea is seeking to deepen its ties with Africa through fresh partnerships with countries on the continent.

An international conference on enhancing economic cooperation between Korea and Africa in the post-COVID-19 era that took place last week in Nairobi sought to strengthen Korea’s cooperation with African countries across all sectors, including the economy, healthcare, and social development.

The event brought together numerous leaders and experts, including the Speaker of the Korean National Assembly, as well as representatives of the Export-Import Bank of Korea, the Korea International Cooperation Agency (KOICA), and other development agencies and partners.

President of the Korea International Cooperation Agency Chang’ Won-Sam said the partnership offers valuable opportunities to take stock of collective accomplishments across a spectrum of cooperation projects and to chart the course for future endeavors.

“Korea and African countries have followed similar historical trajectories. Both have endured the challenges of colonization, conflicts, and poverty. Korea stands as a unique example of having successfully transitioned from an aid recipient to a donor. We are eager to share our development journey and explore practical avenues for stronger cooperation,”  said Chang’ Won-Sam.

The event which was spearheaded by Global Together in conjunction with Korea Eximbank, seeks to fortify and extend the enduring ties between Korea and Africa. Global Together is a non–state-actor organisation dedicated to humanitarian and development initiatives.

The conference centered its efforts on crucial areas, including bolstering infrastructure development, fostering collaborative efforts against pandemics, and supporting the growth of agricultural production and investments. Additionally, the event explored the establishment of new factories, such as shoe manufacturing facilities, while facilitating cooperation in the realm of medical personnel training and the construction of advanced hospitals.

Delegates from African countries provided insights into areas of collaboration in the partnership between Korea and the continent.

President of the Export-Import Bank of Korea Yoon Hee-Sung noted that their mission is to develop the national economy through the promotion of international economic cooperation.

“The Export–Import Bank of Korea was established with aims to facilitate the development of Korea’s economy and enhance economic cooperation with foreign countries through the provision of financial support for export and import transactions, overseas investment projects, and the development of overseas natural resources, “ said Yoon  Hee- Sung.

In sector-specific collaborations, the delegates explored possibilities for collaborations in various sectors, including industries such as health, infrastructure, technology, and more. The conference also provided a platform for meaningful and constructive discussions among representatives from Korea and African countries, fostering understanding and cooperation by showcasing successful examples of development collaboration and best practices.

 


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