Korea will expand economic relations with Nigeria – Envoy
The South Korean Ambassador to Nigeria, Kim Pankyu has said the country would expand economic exchanges between Nigeria.
The envoy made the pledge during a meeting with reporters in Abuja ahead of the Korea-Africa Summit next month in Seoul.
Pankyu said the first Korea-Africa Summit would be a momentous occasion for the relations between Korea and Africa, and also Korea and Nigeria.
According to him, promoting economic partnership had always been the focus since the establishment of the diplomatic relations between both countries 44 years ago.
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He said: I would like to do my best to further expand economic exchanges between Korea and Nigeria. Promoting economic partnership has always been the focus since the establishment of the diplomatic relations between our two countries 44 years ago. Nigeria is already Korea’s top five trade partners in Africa.
“I believe we can do more. Since the current Nigerian government is actively carrying out economic reform to improve the business environment in Nigeria, I will introduce this change to Korean companies and encourage them to venture into Nigeria and make investments.
“The inaugural Korea-Africa Summit is expected to be the largest international gathering under the current administration. This reflects President Yoon Suk-yeol’s commitment to fostering a mutually beneficial, sustainable, and strategic long-term partnership with Africa, aligning with Korea’s vision of becoming a Global Pivotal State. This marks a significant step in Korea’s comprehensive strategy to engage more deeply with the Global South, reflecting our commitment to global inclusiveness and cooperation.
“Korea will host many side events on this occasion including the Korea-Africa Business Summit and multiple forums on ICT, health, tourism and energy. These events will help us come up with practical and concrete measures to expand cooperation. During the Summit, there will be plenty of opportunities for Nigeria and Korea to explore ways to expand their bilateral economic and cultural exchanges both between governments and private sectors. In a nutshell, I believe the upcoming Korea-Africa Summit will set a new milestone in the relationship between Korea and Africa.”
Pankyu also promised to deepen security cooperation between both countries. “Secondly, I will explore ways to deepen security cooperation drawing on my expertise in military and security affairs. In particular, I would like to focus on promoting cooperation on maritime security because securing maritime security in the Gulf of Guinea is essential not only for coastal countries including Nigeria but also for countries passing through this region including Korea.
“In addition, I intend to expand Korea’s support for capacity building of the Nigerian military and security officers,” the envoy said.
The Envoy also promised to deepen cultural exchanges between both countries. He said: “I will try to facilitate people-to-people exchange between the two countries. I believe culture has the power to connect people and improve understanding of each other.”
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