1. During his visit to Addis Ababa, the Federal Democratic Republic of Ethiopia, as part of the 2019 Africa Industrialization Week (AIW, November 18-22), Deputy Minister for Economic Affairs Yun Kang-hyeon met with Commissioner for Trade and Industry Albert Muchanga of the African Union (AU) who assumes overall responsibility for the AIW on the morning of November 21.

○ Deputy Minister Yun heard from Commissioner Muchanga the recent progress after the entry into force of the Agreement Establishing the African Continental Free Trade Area (AfCFTA) in May this year, highlighted that the AfCFTA is beneficial not only to Africa, but also to partner countries, including the Republic of Korea (ROK), and discussed ways to help the ROK enterprises enter Africa following the launch of the AfCFTA.

2. On the afternoon of November 21, Deputy Minister Yun met with State Minister for Business and Diaspora Affairs Aklilu Hailemichael at the Ethiopian Ministry of Foreign Affairs and discussed ways to promote bilateral cooperation such as high-level exchanges, a bilateral investment treaty and development cooperation between the ROK and Ethiopia as part of the follow-up measures to the ROK-Ethiopia Summit which took place on the occasion of Prime Minister Abiy Ahmed’s visit to the ROK in August 2019 (August 25-27).

○ Deputy Minister Yun explained the difficulties facing the ROK enterprises that were brought up during the meeting with Korean businesspeople in Ethiopia just ahead of the above-mentioned meeting and asked the Ethiopian government to pay attention and make efforts to create a business-friendly environment.

3. On the morning of the same day, Deputy Minister Yun laid a wreath at the Ethiopian Korean War Veterans Memorial Park, met with the representative Ethiopian veterans and conveyed deep gratitude over their sacrifice and dedication.