The Korea-Africa Business Forum and Cultural Exchange

21 March 2017
Content from a Premium Partner
African Development Bank (Abidjan)

Busan, Republic of Korea — The Korea-Africa Business Forum and Cultural Exchange Festival in Busan, Korea, which will be held from March 30-31, 2017, and organized by the Busan Metropolitan City, the Ministry of Strategy and Finance of Korea, and the African Development Bank (AfDB) Group, aims at celebrating the relationship between Korea and Africa, one year before the AfDB's 53rd Annual Meetings, which, itself, is scheduled to be held in Busan, Korea, as well, from May 21-25, 2018.

The Korea-Africa Business Forum and Cultural Exchange in Busan, has the specific goals of making the Bank's 53rd Annual Meetings successful by promoting the Korean general public's and private sector's interests in Africa.

The two-day event offers several goals. First, the AfDB will provide practical information, such as procurement policy and non-sovereign operation of the Bank, to the Korean private sector planning to work with, and through the Bank's financial products. Second, Korean entities, for example Korea Eximbank, Korea Trade Investment Promotion Agency (KOTRA), and Sudokwon Landfill Management Corporation, will provide information on ways government institutions and government-owned companies can support the Korean private sector's investment ventures in Africa.

The first Public-Private Partnership (PPP) Forum at the 5th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference was held in Seoul in October 2016. During the PPP Forum, the low level of trade between Korea and Africa came under the spotlight, highlighting opportunities for Korea's private sector to venture into Africa. Dr. Akinwumi Adesina, President of the AfDB, underlined that Korea can support Africa through public-private partnerships that would develop special economic zones and industrial parks, especially for light manufacturing.

The AfDB has put a lot of efforts to support the Korean private sector's investment ventures in Africa. For instance, the Bank's Asia External Representation Office (SNAR) has been providing the latest information and news to the private sector and hosting events about "Doing business in and with Africa."

Busan City will hold diverse cultural events. There will be a presentation by, and open discussion with Albino Malungo, Dean of the African Diplomatic Corps in Korea and Ambassador of the Republic of Angola; Mohamed Gello, Ambassador of the Republic of Kenya; and Shiferaw Jarso Tedacha, Ambassador of the Federal Democratic Republic of Ethiopia. The Bank will also introduce its roles and partnership with Korea together with career opportunities for Korean audience. In addition, there will be an African fashion show, photo exhibition, photo zone, and other cultural artifacts.

For more information (in Korean):

Official hashtag of the 2018 AfDB Annual Meetings: #AfDBAM2018

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