Korea-Africa Sharing
Fifty-four African economic ministers will visit Korea in October this year to discuss economic cooperation with the country. They are planning to publish a joint communiqué with their Korean counterparts on co-prosperity as well.
According to government sources, the Ministry of Strategy & Finance, the Export-Import Bank of Korea and the African Development Bank are planning to hold a Korea-Africa Economic Cooperation Conference (KOAFEC) from October 20 to 23.
The government and the Export-Import Bank invite the ministers along with the governor and the directors of the African Development Bank, the Secretary General of the UN Economic Commission for Africa, leading entrepreneurs, and press. The total number of participants is estimated at around 1,200, which is the highest in the history of the conference.
The Korean government, since the economic cooperation conference with African financial ministers back in April 2006, has hosted the KOAFEC, a ministerial meeting, every two years for a better economic partnership between Korea and Africa. The latest meeting was attended by ministers from 35 countries under the slogan of Inclusive Growth.
In the meantime, the theme of the conference scheduled for October this year is Economic Transformation for Shared Prosperity. There, Korea shares its economic development experience with the economic delegation from Africa. In addition, they are going to discuss future economic cooperation projects with Korean organizations and participate in seminars for the same goal, while having one-on-one meetings with Minister of Strategy & Finance Hyun Oh-seok. A series of economic assistance programs, investment plans, and corporate projects are expected to come out during the course.