African economic ministers to meet in Busan next week

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 Korea, the Ministry of Finance here said on Friday.

The 53rd annual meeting of the African Development Bank (AfDB) will be held in the Korean 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 Saad Eddine El Othmani will 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.

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

One-on-one meetings between 45 African agencies and 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.

Yonhap