President William Ruto addressed the first Korea-Africa summit on Tuesday and emphasized the important role Korea can play in Africa’s transformation.
The President said Africa is interested in exploring strong partnerships with Korean investors to transform Africa’s great potential into opportunities and investments that will create jobs and promote economic growth.
He explained that Africa’s assets, including strong and skilled youth, abundant land for agriculture, large reserves of renewable energy, and abundant mineral resources, have not yet been fully utilized.
He said Africa has recognized food security, science and technology, peace and security, and health security as important areas of cooperation with Korea.
“This meeting shows the desire to elevate this relationship and mobilize the political will needed for Africa and Korea to develop together through mutually beneficial cooperation. To do this, we must come forward with our additions and implement winning strategies based on equal cooperation,” he said.
The conference, whose theme is Future Together: Shared Growth, Sustainability, and Solidarity, was hosted by President Yoon Suk Yeol at the Korea International Exhibition Center in Goyang.
President Ruto attended the meeting as the chairman of the Committee of African Heads of State and Government on Climate Change (CAHOSCC) and the African Union Champion of Institutional Reform.
The President praised Korea’s determination to align its strategic policies with the 2063 Agenda of the African Union.
“This confirms our shared vision of a better future based on sustainability, mutual respect, and common prosperity,” he said.
He said the Korea-Africa Convention and the Economic Cooperation between Korea and Africa have enabled diplomatic and economic collaborations that have helped increase the speed of business and investment growth.
Regarding food security, President Ruto urged Korean investors to share modern agricultural technology and expertise to transform Africa’s food production capacity.
He said programs like Korea’s K-Rice program which Kenya is interested in, should be spread throughout Africa.
“The programs are not only about enhancing production but about building capacity and transferring technology to promote sustainability and resilience, especially considering the growing threat of climate change,” the president said.
President Ruto said Africa is interested in using Korea’s impressive development in communication and information technology, especially in robotics, biological technology, artificial intelligence technology, and quantum computers, to accelerate the economic transformation agenda on the continent.
He said that increasing the participation of the private sector in Korea and Africa through investment will stimulate growth, provide jobs, and promote creativity.
Furthermore, he said Korea’s high potential in developing renewable energy and sustainable technology will help unlock Africa’s abundant renewable resources, and promote green growth.
“Together, Korea and Africa can address the challenges of climate change while pursuing economic development in a manner that respects and considers our environmental responsibilities,” he said.
The President said that cooperation in peace and security will strengthen Africa’s 2063 Agenda, which emphasizes a continent with peace and security as a prerequisite for economic development.
Regarding health security, President Ruto said cooperation with Korea will strengthen the African Center for Disease Control to achieve its goals properly.
“I am confident that with an impressive track record in health care and technology, Korea is an excellent partner for Africa in health efforts,” he said.
At the same time, President Ruto called on Korea to support reforming the international financial system to achieve a balanced and inclusive international development system.
He pointed out that the strengthening of contributions to the window of concessional loans of the World Bank will enable African countries to properly deal with economic crises and follow development agendas.
“We also want Korea, working with the International Monetary Fund, to consider transferring the Special Painting Rights to the African Development Bank,” he said.
He said the African Union proposes to host the African Economic and Investment Conference to ensure effective cooperation with other countries in the world.
For his part, President Yoon said South Korea will expand trade and investment with Africa through economic cooperation agreements and systems to promote trade and investment.
He pledged to support Africa’s efforts towards regional economic integration through the African Continental Free Trade Area.
“We will speed up the signing of economic cooperation agreements, and systems to promote trade and investment. In the field of investment, we will promote exchanges between the companies of these two countries,” Yoon said in his speech to open the Congress.
The President of Mauritania and Chairman of the African Union, Mohamed Ould Ghazouani, said Africa offers many opportunities for Korean investors.
He emphasized that cooperation between Korea and Africa will bring mutual benefits in trade, investment, and energy development.
African Union Commission Chairman Moussa Faki highlighted the African Union’s 2022-2026 Work Plan, saying it includes many projects and programs ready for Korean investment, especially in innovation, health services, food security, and communication technology and information.
At the meeting, Ethiopia spoke on behalf of African countries that helped Korea during the Korean War.
