Luanda – Angola and South Korea have announced plans to sign an agreement on creation of a Korean industrial and commercial park in the country, the Angolan minister of Industry and Commerce, Victor Fernandes, confirmed this on Friday in Luanda.
Victor Fernandes was speaking to the press after an audience granted to the Korean delegation, headed by the Deputy Minister for Economic Affairs of the Ministry of Foreign Affairs of South Korea, Yun Seong-Deok.
The Angolan minister said that the partnership will boost bilateral cooperation in this area.
The official spoke of the need to set up a joint team – Angola and South Korea – in order to monitor the implementation of the agreement, with focus on the country’s development in the industry and trade sector.
He considered the Asian country, in view of its industrial and technological capacity, a suitable partner in transfer of “know-how” to the country.
“We want to achieve food self-sufficiency in this five-year period. And we need to establish partnerships with the countries that have experienced this phase in terms of development of their economies and that have a strong technical and technological capacity to achieve these goals”, he stressed.
In turn, the deputy minister for Economic Affairs of the Ministry of Foreign Affairs of South Korea, Yun Seong-Deok, expressed his country’s interest in the sector of renewable energy and agriculture in Angola.
He added that Korea has an interest and plan to help the problem of food shortages in African countries, mainly in Angola.
“South Korea will work to address food shortage”, he stressed.
Political and diplomatic relations between South Korea and Angola date back to 1992.
Both countries have expanded the scope of cooperation in several fields, like politics and economics, where they share similar historical experiences such as in colonial periods, civil war and economic growth.
The volume of trade has so far reached USD 200 million annually.
Angola exports petroleum products (oil and gas) to South Korea, and the African country imports from South Korea machinery, household appliances, cars, although the trade balance is still small.
Source: Angola Press News Agency