The Tunisian ambassador has called on Korea to boost economic ties with his country following last year’s revolution.
While the later years of former leader Zine al Abidine Ben Ali’s rule were characterized by corruption, the new government elected since his January departure is working to stabilize Tunisia’s economy.
Tunisian Ambassador Ammar Amari said that while Tunisia and Korea had enjoyed 40 years of good diplomatic relations, better economic ties should now follow.
“The economic ties between Tunisia and Korea have remained below the aspirations and don’t reflect the excellent political relations,” he said.
“Thus, the first elected Tunisian government, based on the same values of freedom we henceforth share, is very dedicated to enhancing our friendly relations, within its global strategy to open new perspectives in our relations with the Asian continent, which holds tremendous potential.
“We are looking to Korea as a success story that we are very keen to get inspired from.
“Indeed, Korea has witnessed a similar social uprising in the 1980s and as a confirmed democracy it is posed to play a greater role in Tunisia to especially contribute to its economc development on a win-win basis.”
Tunisia’s recently elected coalition government aims to attract investment based on the North African country’s strategic location at the crossroads of Europe, Africa and the Middle East.
Amari said the country offers many opportunities for Korean investors seeking to expand their business in those regions. He added that Tunisia was competitive in sectors such as textiles and leather, mechanics, electricity and electronics, plastics and agribusiness. The country is now offering new investment opportunities in offshoring, aerospace, renewable energy, infrastructure projects, logistics, health services and tourism, he said.
“As ambassador of Tunisia in Korea, I would like to emphasize that time has come for the Korean private sector to enhance its presence in the Tunisian market and to take the best advantage of what new Tunisia is offering in terms of investment opportunities and incentives with guaranteed full transparency,” he said.
“Given the fact that Korean companies are increasingly looking to expand and externalize their activities, I invite them not to miss the opportunity to reconsider the Tunisian site by reassessing it through dispatching business delegations to prospect the Tunisian market and make a broader vision on what can this site offers in terms of business opportunities and investment attractiveness.”
Tunisia has been part of the EU free trade zone since 2008, offering products manufactured in Tunisia access to regional markets, with preferential agreements also signed with numerous Middle Eastern and African countries. Tunisia is also set to raise its EU relations to a privileged partnership and has applied for OECD membership.
The Tunisian Embassy reported that exports from mechanical, electric and electronic industries registered steady growth of more than 20 percent per year. It also said that Tunisia’s ICT industry had enjoyed annual growth of 24 percent.
Amari said there were many investment opportunities in sectors including infrastructure-building and renewable energy. Some 2,800 firms currently have direct investment in Tunisia, enjoying many investment incentives, the ambassador said.
Tunisia has simplified its business creation, with freedom of investment in most sectors. Incentives include 10 years exemption from income tax, other tax incentives and state subsidies for certain investments in regional development areas.
Korean automotive component company SEWON ECS recently established a plant there to supply Korean automobile constructors in Europe.
Yura Corporation was the first Korean manufacturing company to invest in Tunisia, establishing a plant in Kaiouan in 2007.
Speaking ahead of Tunisia’s Independence Day on March 20, Amari also hailed the “significant development” of political, economic, scientific, cultural and academic cooperation between Korea and Tunisia since the 1960s.
He also praised the Korea International Cooperation Agency’s “fruitful cooperation” with Tunisia since 1991.
He added: “I remain optimistic that the economic ties between Tunisia and Korea will know a great bound in the medium-term amid efforts being made to elevate the bilateral links to a strategic partnership.”
By Kirsty Taylor (
kirstyt@heraldcorp.com)
