1. Deputy Minister for Economic Affairs Lee Seong-ho participated in the Korea-Sudan Business Partnership Forum, which was held in Khartoum, Sudan, on June 29 and attended by Minister of Investment and International Cooperation Al-Hadi Mohamed Ibrahim and business leaders from both countries.

2.  In his congratulatory speech, Deputy Minister Lee said that he hopes that Sudan will realize its potential, adding that the Korean government is ready to support it.

 ㅇ Emphasizing Sudan’s recent significant progress, such as the removal of Sudan from the U.S. list of State Sponsors of Terrorism followed by the beginning of  Sudan’s debt relief process under the Highly Indebted Poor Countries Initiative, Deputy Minister Lee praised the Sudanese government's leadership in implementing difficult reforms to achieve democratic peace and economic prosperity.

 ㅇ He also noted that the two countries have a high potential for economic cooperation, given that Korea was Sudan's largest direct investor from the 1970s to the 1990s and that since then, Korean companies have expanded their activities in Sudan, building a good image of Korean products.

3  In a keynote speech, Dr. Ibrahim, Sudan's Minister of Investment and International Cooperation, highlighted the efforts of the Sudanese government to stabilize the political situation as well as to improve the business environment through the enactment of the 2021 Investment Encouragement Act. He called for the attention of the Korean government and companies to investment opportunities in Sudan in areas including mining, agriculture and infrastructure.

4. The speeches were followed by discussions on the changing business environment and investment opportunities in Sudan (Session 1); Korean companies’ interests and successful experiences in doing business in Sudan (Session 2); and challenges in business activities in Sudan and possible solutions (Session 3).

5.  This Forum is considered to have provided a good opportunity for  Korean companies to seek potential business areas in Sudan at a time when Sudan's reintegration into the international economy is being accelerated after its removal from the U.S. list of State Sponsors of Terrorism. The Ministry of Foreign Affairs will further support Korean companies’ bids to expand their activities in African and  Middle Eastern markets in the future.