SEOUL, Oct 8 (Bernama-Yonhap) -- President Lee Jae Myung and Egyptian President Abdel Fattah El-Sisi agreed to elevate bilateral ties and expand cooperation in trade, defence and other areas during their summit Thursday, Yonhap News Agency reported.
The two leaders made the announcement in a joint press briefing following their talks at Cheong Wa Dae (Presidential Office) in Seoul, where they agreed to upgrade 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 liberalisation, including investment and other areas of economic collaboration.
To promote cooperation, the two nations signed or revised 12 documents and memorandums of understanding (MOUs) covering economic, industrial, energy, technological and cultural exchanges.
Under these deals, the two countries agreed to strengthen cooperation in shipbuilding, defence and technology, including in the areas of artificial intelligence and cybersecurity.
El-Sisi arrived in South Korea the previous day on a three-day state visit, his first trip to the country since 2016.
Following an official welcoming ceremony in the front garden of Cheong Wa Dae earlier in the day, which included a joint inspection of an honour guard, the two leaders held talks first in a restricted format and then in an expanded format that included senior officials from both sides.
The leaders were scheduled to attend a state luncheon later, according to Cheong Wa Dae.
"We expect President El-Sisi's state visit to serve as an important opportunity to develop South Korea-Egypt ties into a strategic partnership and further strengthen our country's cooperation with Africa and West Asia," presidential spokesperson Kang Yu-jung said earlier.
The two leaders last met in November during Lee's visit to Egypt.
-- BERNAMA-YONHAP
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