Egyptian President Abdel Fattah El Sisi, before leaving South Korea for home, has witnessed the signing of memorandum of understanding between the General Authority for the Suez Canal Economic Zone (SCEZ) and Incheon Free Economic Zone (IFEZ).

Earlier in the day, President Sisi inspected the Incheon Free Economic Zone (IFEZ) and the Incheon Port in South Korea.

In a keynote speech, the Egyptian leader hailed the success of South Korean model in development.

President Sisi said that the IFEZ is one of Korean edifices Korean and represents an integrated economic, industrial and logistic system.

Egypt is keen on drawing on the IFEZ sucess story to develop Suez Canal plans and its associated industrial and logistic zone.

President Sisi expressed his keenness to foster bilateral cooperation between the Incheon Free Economic Zone (IFEZ) and the Suez Canal Special Economic Zone, exchanging expertise in various fields of mutual concern. 

President Sisi was accompanied by the ministers of foreign affairs, electricity and international cooperation and the head of the Suez Canal Special Economic Zone.