Ministry of Trade, Industry and Energy

Minister for Trade Inkyo Cheong of the Republic of Korea met Karim Zidane, Morocco’s Minister Delegate in charge of Investment, Convergence, and the Evaluation of Public Policies, today in Seoul on the occasion of the latter’s visit for the investment roadshow “Morocco Now” and exchanged views on measures for expanding bilateral economic cooperation. A follow-up to the Korea-Africa Summit 2024 held this June, the talks touched on ways to carry forward the summit momentum towards a bilateral Economic Partnership Agreement (EPA).

Trade Minister Cheong emphasized the importance of swiftly launching the EPA negotiations with respect to expanding investment and asked the Moroccan government’s interest and support for Korean companies’ local business issues and participation in Morocco’s rail train and new renewable energy projects.

Minister Delegate Zidane responded by agreeing that they accelerate discussions for the bilateral EPA and expressed hope for Korean companies’ entry into Morocco’s automobile, aviation, shipbuilding, clean energy, and other high-tech markets in view of Morocco’s rich Free Trade Agreement (FTA) network spanning 55 countries and geological advantages as an investment hub and gateway into Europe and the Middle East.

Following the talks, Trade Minister Cheong gave a congratulatory speech at the investment roadshow hosted by Morocco, promising support in creating diverse opportunities for both countries’ business leaders and closely cooperating with the Moroccan government to reach the Korea-Morocco EPA. The investment roadshow was also attended by roughly 100 representatives of Korean companies and related institutions seeking to promote business collaboration, including LG Energy Solution, Samsung E&A, HD Hyundai Heavy Industries, LX International, the Korea-Africa Foundation, and the Korea Importers Association (KOIMA).