An Economic Joint Committee on ministerial level was established on basis of the Economic, Scientific, Technical and Cultural Agreement signed in April 1983.
• The Committee held its first session on 15- 22 July 1984 presided by the Minister of State for International Cooperation from the Egyptian side and the Minister of Foreign Trade from the Korean side.
• In 1998, the Korean side requested the convention of a second session in Pyongyang in April 1999 for discussing the following issues:
o Means of activating trade between both countries.
o Benefiting from Egypt’s experience in the field of petroleum exploration.
o Reinforcing economic cooperation with emphasis on the fields of agriculture, irrigation and drainage systems.
o Cooperation in the construction sector.
o Seeking mechanisms for enhancing technical and scientific cooperation and the exchange of modern scientific inventions.
Egypt requested to postpone the second session of the Joint Committee, which has not been held to date.
Important Recommendations /Agreements Signed at the Last Session:
At the First Session of the Joint Committee held in Cairo in June 1984, the following was agreed upon:
o Enhancing cooperation in the field of fish wealth with a view to increasing fisheries, where the Korean side will provide technical assistance for setting up fisheries.
o Continued cooperation in the field of rice cultivation in Egypt.
o Exchange of technicians, experts, experience and information in the field of ship building.
o Studying the possibility of executing a joint project for ship breaking.
o The Korean side’s contribution to infrastructure and construction works in Badr City.