Korean, Angolan presidents call for expanded bilateral cooperation

President Yoon Suk Yeol, right, poses for a photo with Angolan President Joao Lourenco during their summit at the presidential office in Seoul on Thursday. [JOINT PRESS CORPS]

President Yoon Suk Yeol and Angolan President Joao Lourenco called Tuesday for expanding bilateral cooperation based on their countries' respective strengths in technology and natural resources.

The two leaders agreed on the need for increased cooperation as they held a summit in Seoul as part of Lourenco’s three-day official visit to Korea, the first bilateral visit by an Angolan leader since 2001.

“Angola has rich natural resources and a young population. Korea has advanced technologies and economic development experiences,” Yoon said during opening remarks at the presidential office, noting Korean businesses have taken part in constructing key facilities in Angola, while Korean-built ships have contributed to the African nation’s oil industry.

“I hope we will hold in-depth discussions at today’s summit on ways to further expand mutual cooperation based on the two countries' strengths,” he said.

Lourenco noted there are various areas in which the two countries can cooperate and that Angola plans to learn from Korea’s experience of achieving rapid economic development.

“If Korea can share its development experience with Angola, I believe Angola can build stronger economic cooperation,” he said through an interpreter.

Angola is known to have large reserves of oil, diamond, iron ore and other minerals.

The summit served as an occasion to strengthen the foundation of bilateral ties by establishing a connection with the Angolan president, who has cited Korea as one of his country’s key cooperation partners, according to Yoon’s office.

It also led to the signing of five memorandums of understanding on establishing a bilateral Trade and Investment Promotion Framework and cooperation in the health, people-to-people exchange, police, and trade and investment sectors.

The Angolan leader’s visit, which came a month before the inaugural Korea-Africa summit in June, helped create the conditions for a successful summit, Yoon’s office said.

Yonhap