South Korea, one of Algeria’s main trading partners

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Prime Minister of the Republic of Korea, Lee Nak-Yon, on Sunday, began an official three-day visit to Algeria, during which he will co-chair the 5th Algeria-South Korea Business Forum with Premier Ahmed Ouyahia.

 

Accompanied by a large delegation, Mr. Lee Nak-Yeon was greeted upon his arrival at Houari-Boumediene International Airport by Mr. Ouyahia accompanied by Foreign Minister Abdelkader Messahel and the Minister of Industry, Trade and Mines, Youcef Yousfi.

During his visit, the South Korean Prime Minister will hold talks with Mr. Ouyahia, as well as with other senior Algerian officials.
South Korea is one of Algeria’s main trading partners with nearly $ 2.3 billion in trade in 2017, of which nearly $ 700 million is Algerian exports and $ 1.6 billion worth of foreign imports.

In the first half of 2018, Algeria’s imports from Korea amounted to $ 609 million, while its exports to the country were $ 474 million.
Algeria and South Korea are bound by a strategic partnership agreement signed in 2006, making Algeria the only African country that has signed such an agreement with South Korea.

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