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African economy ministers to gather in Busan next week

2018/05/18 15:00

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SEJONG, May 18 (Yonhap) -- Economy-related ministers from 35 African nations will gather in Busan next week to discuss ways to bolster the continent's industrialization and economic cooperation with South Korea, the Finance Ministry here said Friday.

The 53rd annual meeting of the African Development Bank (AfDB) will be held in the country's port city of Busan from Monday to Friday under the theme of "Accelerating Africa's Industrialization," said the ministry, the event's organizer.

Moroccan Prime Minister Eddine El Othmani will also join a high-level session as a panelist, and World Bank President Jim Yong Kim will deliver a special address.

On the sidelines of the AfDB meeting, the Korea-Africa Economic Cooperation (KOAFEC) meeting will be held, with African trade and industry ministers taking part in the event. The biennial meeting was launched in 2006.

A large group of African business leaders will also visit the country to contribute to the discussions at this year's meeting.

On Tuesday, eight African ministries and state-run companies will introduce their major infrastructure development projects to seek investments from South Korean financiers and businesses.

One-on-one meetings between 45 African agencies and South Korean companies are also scheduled.

The Busan AfDB meeting is the fifth of its kind to be held outside the African continent, according to the ministry.

South Korea's No. 1 port city of Busan (Yonhap) South Korea's No. 1 port city of Busan (Yonhap)

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