Egyptian Help in Middle East

Construction Association of Korea signs MOU with its counterpart in Egypt

The Construction Association of Korea announced recently that it has signed an MOU with the Egyptian construction association to advance jointly into third country construction markets, especially those in the Middle East. The agreement was signed by Kwon Hong-sa, chairman of the Korean association and Ahmed El Said, chairman of the Egyptian Construction Federation, in Cairo where Chairman Kwon was visiting as a member of entourage of President Roh Moo-hyun who paid a state visit to the North African country.
The MOU provides for cooperation of the two associations in the areas of technology, capital and workers, among others, in advancing into third countries construction markets jointly, especially in the Middle East. As the first move toward that direction, two associations have decided to hold an international seminar on construction in Cairo next month, the association said.
Executives of the two construction associations also agreed to exchange information on construction industries in both countries, including policies on real estate, current issues in both countries'construction industries and construction technologies.
The moves are expected to build a base for Korean builders cooperation with civilian construction firms in Egypt to spur Korean construction firms'advance into the Middle East.
CAK officials said the association for the first time has built a system of cooperation in the construction area in the African region with civilian construction companies through Egypt. It has already cooperative systems with construction firms in such countries as China, Vietnam, Cambodia, and Japan, in Asia.
In the meantime, before the signing of the MOU, Egyptian Construction Minister Ahmed El Magravy told CAK Chairman Kwon at a meeting March 8 that Egypt wants Korean construction firms to participate in the new city development projects and the construction of houses for low-income people in his country. The MOU was signed following the Egyptian minister's meeting with the CAK chairman Kwon.
The construction market in Egypt is projected to make a sizable growth soon with the African country planning to push various measures to perk up its economy as a leading country with a large political influence both in Africa and the Middle East.
In the meantime, CAK chairman Kwon left for Manila to attend the 35th general meeting of the International Federation of Asian & Western Pacific Contractors'Association(IFAWPCA) scheduled to be held in the Philippine capital from March 14-18.
The association, established in 1956 in Manila, has been devoted to the exchange of construction technology among its 15 member construction firms in Asia, including such countries as Japan, Thailand, Singapore, and Australia, besides South Korea.
Aims of the federation are to bring about closer contact, international fellowship and cooperation among the contractors in the countries and geographical areas in Asia and the Western Pacific. They also are directed to exchange information on engineering construction technology; to develop and strengthen the relationship between governments and contractors with a view towards finding mutually beneficial solutions to problems and to establish , in accordance with the laws of the respective member countries/geographical areas, cooperative working arrangements in the furtherance of civil engineering/building construction projects.
The association was formed as a statutory organization under Article 50 of the Framework Act on the construction industry. The main purposes of its establishment are to maintain the prestige of the construction contractors, to promote mutual cooperation among contractors, to protect their rights and interests, and to strive for the improvement of construction-related legislations, construction economy policy and construction technology, thus to contribute towards sound progress and development of the nation's construction industry. nw

Chairman Kwon Hong-sa of the Construction Association of Korea.