Korea and Morocco Discuss Expanding Bilateral Economic Cooperation with Focus on Renewable Energy and Strategic EPA Negotiations

The Minister for Trade of the Republic of Korea, Inkyo Cheong, met with Karim Zidane, Morocco’s Minister Delegate in charge of Investment, Convergence, and the Evaluation of Public Policies, today in Seoul. Their discussions focused on expanding bilateral economic cooperation, a key objective during Zidane’s visit for the “Morocco Now” investment roadshow.

The meeting was a follow-up to the Korea-Africa Summit 2024 held earlier this year, with both ministers exploring ways to advance the momentum from the summit toward a bilateral Economic Partnership Agreement (EPA).

Minister Cheong emphasized the urgent need to launch negotiations for the EPA to facilitate increased investment and business exchanges between the two countries. He also requested the Moroccan government’s support for Korean companies operating in Morocco, particularly regarding participation in the nation’s rail, train, and renewable energy projects.

In response, Minister Zidane agreed on the necessity to expedite EPA discussions and expressed interest in encouraging Korean companies to explore Morocco’s promising sectors, such as automobiles, aviation, shipbuilding, clean energy, and other high-tech industries. Zidane highlighted Morocco’s strategic geographical position as an investment hub with its extensive Free Trade Agreement (FTA) network spanning 55 countries, offering a gateway to both Europe and the Middle East.

Following their talks, Minister Cheong delivered a congratulatory speech at the “Morocco Now” investment roadshow, which attracted over 100 representatives from Korean companies and institutions. Among the attendees were key industry players such as LG Energy Solution, Samsung E&A, HD Hyundai Heavy Industries, LX International, the Korea-Africa Foundation, and the Korea Importers Association (KOIMA). Minister Cheong promised continued support to foster business opportunities and close cooperation between the two countries in the pursuit of the Korea-Morocco EPA.