Korean economic delegation to visit Ivory Coast, Ethiopia

A South Korean economic delegation will visit the Ivory Coast and Ethiopia to help lay the foundation for more trade and industrial cooperation, the government said Sunday.

The Ministry of Trade, Industry and Energy said the 37-person delegation made up of government officials and businessmen will be in the two African countries from Sunday through Saturday.

It said the visit to the Ivory Coast will help local companies play a greater role in ongoing infrastructure building projects.

The West African country is currently pouring in some $22 billion to upgrade its power, road, port and railway systems.

Lee Sang-jin, director general in charge of the ministry trade cooperation office, and head of the delegation, said businessmen will take part in industrial plant and other investment talks that could allow them to win contracts down the line. Smaller sized builders and farm equipment manufacturers will also strive to enter Ivory Coast's markets.

The official said during the Ethiopian leg of the trip, leaders from the Korea Federation of Textile Industries will meet the country's president to discuss future investment plans. Addis Ababa has expressed interest in creating a textile techno-park as part of its effort to build up globally competitive industries.

The official then said he plans to ask Ethiopian counterparts to allow South Korean companies to assume a greater role in the Bole Lemi 2 industrial park project. The park, located 14 kilometers from the capital city, has received funding from the World Bank and will be completed in 2017.

If South Korean companies gain access to the park, it can spur exports of machinery facilities and parts, as well as other areas.

Lee, meanwhile, said during the bilateral business forum set for Thursday in the Ethiopian capital, South Korea plans to share its industrialization know-how that can be emulated by the East African country. (Yonhap)