Lee, Egypt's Sisi declare launch of CEPA negotiations at Seoul summit

President Lee Jae Myung held a summit with Egyptian President Abdel Fattah el-Sisi at Cheong Wa Dae on Thursday, with the two leaders agreeing to launch negotiations on a Comprehensive Economic Partnership Agreement between South Korea and Egypt.

Speaking at a joint press statement following the summit, Lee said the two countries had agreed to elevate bilateral ties to a strategic partnership and to translate existing agreements into tangible outcomes that citizens of both nations could feel. "On Thursday, we issued a joint statement in Seoul upgrading our relationship to a strategic partnership and agreed to turn our accumulated agreements into concrete results," he said.

El-Sisi visited South Korea as a state guest at Lee's invitation — his first such visit in 10 years. The meeting marked the two leaders' first encounter in roughly 11 months, following Lee's visit to Egypt last November.

Lee said the summit produced "meaningful results in five broad areas" and that the two sides had signed or revised a total of 12 cooperation documents.

The two countries first moved to establish an institutional foundation for expanding economic cooperation. Egypt, a major economy linking the Middle East and Africa and one of South Korea's key trading partners, is regarded as a core partner in both regions.

The leaders agreed to formally launch CEPA negotiations, having first agreed to pursue the pact during Lee's visit to Egypt last year.

A CEPA is a form of free trade agreement that goes beyond opening goods and services markets to encompass broad economic cooperation between the two parties.

Following last year's summit, South Korea's Ministry of Trade, Industry and Energy traveled to Egypt and signed a joint declaration to advance the CEPA process.

"Having agreed last year to pursue a CEPA, the two countries officially declared on Thursday the launch of negotiations on the agreement," Lee said. "I hope the agreement will be concluded swiftly and lay a solid foundation for expanding not only bilateral trade and investment but also economic cooperation across a wide range of fields."

South Korea also signed a social security agreement with Egypt — the first Asian country to do so — aimed at relieving the double pension contribution burden on workers dispatched between the two countries and encouraging greater business activity and mutual market entry.

In defense, the two sides assessed the joint production of the K-9 self-propelled howitzer as a successful model of bilateral cooperation and agreed to expand the partnership.

Lee said he hoped defense cooperation between the two countries would "develop into a mutually beneficial partnership that goes beyond simple arms exports to contribute to strengthening Egypt's military capabilities and expanding Egypt's industrial base through local production and technology cooperation."

Cultural and educational exchanges will also be broadened. The two countries designated next year as the "Year of Korea-Egypt Mutual Cultural Exchange" and signed memorandums of understanding on cooperation between Egypt's Grand Egyptian Museum and South Korea's National Museum of Korea and National Agricultural Museum.

The leaders also agreed to deepen cooperation for peace on the Korean Peninsula, across the Middle East and in the broader international community.

Lee said he "highly appreciated Egypt's efforts toward peace in the Middle East, including in Gaza," adding that "the two countries agreed to continue working toward the swift restoration of peace and stability in the region."

He also said the two sides "reaffirmed the importance of the smooth flow of international maritime logistics and the free and safe navigation of all vessels."

Meanwhile, on Wednesday Lee had welcomed el-Sisi's state visit via a post on X, formerly Twitter, expressing hope that "the miracle of the Han River and the miracle of the Nile will meet and lead to greater shared prosperity for both nations."