Eritrea will share its industrial data with South Korea. It was said by the Eritrean President Isaias Afwerki during his recent visit to South Korea.
Isaias Afwerki, the Eritrean President, held a one-on-one meeting with South Korean President Yoon Suk Yeol last week. During the meeting South Korean leader proposed deepening bilateral cooperation in the mineral sector with Eritrea, a country rich in mineral resources.
South Korea last week hosted first South Korea-Africa summit attended by more than 40 African countries. Ethiopian Prime Minister, Kenyan President, Eritrean President and several other African leaders attended the summit. South Korea is interested in investing in African critical minerals exploration sector. South Korean tech industry relies heavily on imported raw materials.
In his meeting with South Korean President, Isaias Afwerki assured him that within 8 to 10 weeks, he would furnish a comprehensive document containing detailed industry information and a development plan from Eritrea. The objective is to offer the Yoon government and Korean institutions a deeper insight into Eritrea’s reality and development trajectory, facilitating the formulation of a roadmap for collaborative cooperation and development initiatives.
Ethiopia signed a $1 billion financing agreement with South Korea during the summit. Tanzania and Kenya also signed financing agreement.
It seems Eritrea does not want to rush into signing any agreement with South Korea about its minerals sector. It wants a mutually beneficial deal involving technology transfer and human resource development.
Some experts are of the view that the Eritrean President came unprepared for the summit. He should have been accompanied by a team of experts with a detailed roadmap about cooperation with South Korea.
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