13 Hrs
Source:
Sky News
Riyadh and Cairo form strategic alliance
South Korea and Egypt officially announced the start of negotiations to establish a Comprehensive Economic Partnership Agreement between the two countries, aimed at strengthening economic cooperation across various sectors including trade, investment, energy, industry, technology, and defense. The two parties agreed to transform previous agreements into tangible achievements, with the signing of memoranda of understanding in shipbuilding and defense industry development, which will contribute to enhancing military capabilities and expanding the Egyptian industrial base. They also designated the upcoming year as the Year of Cultural Exchange between the two nations. This step comes as part of efforts to bolster bilateral relations and promote regional and international peace and stability, with a focus on cooperation in defense technology and shipbuilding. South Korea and Egypt plan to deepen their partnership in ways that serve the interests of their peoples.
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