The Arab Organization for Industrialization (AOI) signed a memorandum of understanding with South Korea's "Gyeonggi Technopark" to boost bilateral cooperation - Press photo
CAIRO - 20 December 2019: The Arab Organization for Industrialization (AOI) signed a memorandum of understanding with South Korea's "Gwangju Technopark" to boost bilateral cooperation in the fields of multipurpose vehicles, home electronics, medical industries, health care, and renewable energy.
Following the signing of the cooperation deal, AOI Chairman Abdel Mon’em el Tarras stressed the importance of strengthening cooperation with international parties in line with President Abdel Fattah El Sisi's directives to increase the local manufacturing component in the national industries.
The MoU falls within the AOI's strategy to develop its products and manufacturing capabilities using the latest international technologies in the different manufacturing domains, Tarras said.
The deal aims at beefing up investment opportunities and trade exchange between Egypt and South Korea, along with benefiting from the South Korean expertise, Tarras said.
As for the South Korean representatives of the company, they lauded the AOI's potentials, saying they are looking forward to expand the scope of cooperation with the AOI in the various domains.