AfDB External Representation Office for Asia hosts doing business with Africa seminars for Korean private sector

09/12/2015
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The African Development Bank (AfDB) External Representation Office for Asia (ASRO) hosted two seminars for the Korean public and private sector and officially launched its Korean language website in Seoul on November 30. The events were supported by the Bank’s main counterparts – the Ministry of Strategy and Finance (MOSF) of the Republic of Korea and Korea Eximbank.

The focus of the event was to launch of the Korean edition of the AfDB strategies and the Korean language website of the AfDB and to hold seminars on strengthening Korean private sector investments and doing business in Africa.

The first seminar invited officials from the government and state-run institutions, researchers and university students who are all interested in the roles and tasks of multilateral development banks in emerging countries, especially those on the African continent. It provided them with the opportunity to learn from, and share, each other’s experience and knowledge. The second seminar invited high-level executives from Korean companies interested in private sector investment in Africa to help them discover business opportunities in Africa and seek ways to minimize business risks.

More than 100 companies attended the seminars, which Tadashi Yokoyama, Head of AfDB’s External Representation Office for Asia, deemed highly successful. “Africa is a huge continent that presents a wealth of opportunities. It is also the second fastest-growing continent in the world, after Asia. The main aim of these seminars is to encourage Korean companies to actively get involved in doing business in Africa individually, not only through the Bank’s financed projects” he said.

The Republic of Korea became a member of the African Development Fund (ADF) in 1980 and joined the African Development Bank (AfDB) in 1982. The first Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference was held in Seoul in April 2006. Held biennially, it has since become an important forum for cooperation between the Bank and Korea. The 5th KOAFEC is scheduled to be held in Seoul in October 2016.

For more information, please visit the AfDB’s Korean website: www.afdb-org.kr


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