President Lee Jae Myung and Egyptian President Abdel Fattah El-Sisi agreed to elevate bilateral ties and expand cooperation in trade, defense and other areas during their summit Thursday. The two leaders made the announcement in a joint press briefing following their talks at Cheong Wa Dae in Seoul, where they agreed to upgrade the bilateral relations to a strategic partnership. "Today in Seoul, we issued a joint statement elevating our bilateral relations to a strategic partnership and agreed to turn our previous agreements into tangible outcomes for the people of both countries," Lee said. The leaders also officially announced the launch of negotiations for a comprehensive economic partnership agreement (CEPA), following their agreement on the trade pact during their summit in Cairo last year. CEPA is a type of free trade agreement that promotes broader economic cooperation beyond market liberalization, including investment and other areas of economic collaboration. To promote cooperation, the two nations signed or revised 12 memorandums of understanding (MOUs) covering economic, indust
Read full article