Africa and South Korea are holding the first joint Summit in Seoul. The Summit aims at fostering better-structured bilateral cooperation and strengthening the partnership between the two sides. The Summit will be jointly co-hosted by South Korea and Mauritius with the theme “The Future We Make Together: Shared Growth, Sustainability and Solidarity”.
The Summit follows the launching of President Yoon Suk Yeol, foreign policy of making the Republic of Korea (RoK) “The Global Pivotal State (GPS)”. The GPS policy aims to create a country capable of altering the distribution of power creating or maintaining stability within the international political order and expanding networks and cooperation with like-minded nations that share South Korea’s identity, values, and strategic cooperation. By becoming so, RoK has to strengthen its economic, trade, military and global cultural influence.
Africa is a key partner for Korea in realizing its foreign policy aspiration of becoming a Global Pivotal State, President Yoon.
There is a huge difference and impact between the Korea-Pacific Island Summit with the Korea-Africa Summit. Africa, home of 1.4 billion people with a GDP of 3.1 trillion U.S dollars and vast natural resources signifies a strategic position in the Korean economy. It’s clear, that Korea needs more of Africa than vice versa. Africa contributes three per cent of Korean exports and one per cent of its imports.
This year, RoK joins the UN Security Council (UNSC) as a non-permanent member of the 2024-25 terms together with Japan, Switzerland, Ecuador, Guyana, Mozambique, Malta, Sierra Leone, Algeria and Slovenia. As a new NATO partner, RoK is expected to hold a significant card in the UNSC. Through RoK in UNSC, Africa should push the agenda of Africa should begin to use its potential as a bargaining chip for its sustainability and welfare.
Cho Tae-yul, chairperson of the Korea-Africa Summit Preparatory Commission and the Minister of Foreign Affairs of RoK declared President Yoon’s summit target. These targets are the desire to work with Africa in transmitting RoK into a global pivotal state. The second is its interest in joining the “scramble” for resources in Africa and the last is the trade opportunity of RoK in the African Continental Free Trade Area (AfCFTA).
Prime Minister Abiy Ahmad (Ph.D.) and First Lady Zinash Tayachew arrived in Seoul, Republic of Korea for an official visit. During his stay, Prime Minister Abiy Ahmed in tandem with the ministerial delegation will participate in the Korea-African summit, local media reported.
In their bilateral meeting, Prime Minister Abiy Ahmed and President Yoon Suk Yeol discussed ways of further strengthening the longstanding and historical relations between Ethiopia and the Republic of Korea, Ahmed Shide noted.
According to the Minister, the Republic of Korea has affirmed its commitment to strengthen trade and investment ties with Ethiopia and support development activities in the country through financial assistance as the two leaders further agreed to work more closely in areas of technology transfer and agricultural transformation.
The financing cooperation agreement signed between the two countries will be implemented during the coming four years, he added.
According to the agreement, the finance will be used for infrastructure, science and technology capacity building, health and Urban Development works.
The Minister for Government Communication Service, Legesse Tulu (PhD) said the Republic of Korea has an immense experience harmonized with its progress, and those bilateral talks between the two leaders paved the way for further cooperation in experience sharing among the two countries.
The Republic of Korea has pledged commitment to share its best experiences in technology and economic sectors with Ethiopia, the Minister pointed out.
Abiy has reaffirmed his country’s commitment to work together with South Korea to further enhance partnership between the two countries.
The Prime Minister who is in South Korea for an official working visit also appreciated South Korean President Yoon Suk Yeol for a warm welcome to his delegation.
“I (would) like to thank President Yoon Suk Yeol for receiving us today. Our countries share a long history spanning over six decades, rooted in Ethiopia’s support during the Korean War,” the premier shared on his social media channels.
Prime Minister Abiy added that: “I am confident that we will work together to further enhance our partnership.”
The visit of Prime Minister Abiy Ahmed (PhD) and his delegation to Seoul will bring the historical relationship between Ethiopia and the Republic of Korea to the next level, Ambassador of Ethiopia to the Republic of Korea, Dessie Dalke said.
He described the visit as a milestone in cementing the historical relationship and paving the way for new areas of cooperation between the two countries in the future.
Prime Minister Abiy Ahmed and South Korean President Yoon Suk Yeol have signed a 1 billion US dollar financing framework agreement today.
The financing framework agreement targets projects to be implemented over the next four years, according to the Office of the Prime Minister.
Ethiopia and South Korea with their respective delegations also held bilateral discussions and signed an MOU between Ethiopia’s Federal Ethics and Anti-Corruption Commission and the Anti-Corruption and Civil Rights Commission of the Republic of Korea.
The Finance Minister Ahmed Shide stated that the agreement signed between Ethiopia and the Republic of Korea an instrumental in further enhancing the historical relationship between the two countries.
According to the Minister, the Government of the Republic of Korea has affirmed its commitment to strengthen trade and investment ties with Ethiopia and support development activities in the country through financial assistance as the two leaders further agreed to work more closely in areas of technology transfer and agricultural transformation.
The financing cooperation agreement signed between the two countries will be implemented during the coming four years, he added.
According to the agreement, the finance will be used for infrastructure, science and technology capacity building, health and Urban Development works.
COMPILED BY STAFF REPORTER
THE ETHIOPIAN HERALD TUESDAY 4 JUNE 2024
