President Samia Suluhu Hassan is set to visit the Republic of Korea from May 31 to June 6, 2024, at the invitation of President Yoon Suk Yeol.
During her visit, President Samia will attend the Africa-Korea Summit and undertake an official state visit to South Korea.
Tanzania’s Minister of Foreign Affairs, January Makamba, announced yesterday that seven agreements will be signed, including a political declaration initiating negotiations on economic cooperation.
“During this visit, the President will hold discussions with her counterpart at the Korean presidential palace and sign seven cooperation agreements in various areas, including mining, aviation, education, and the blue economy. The most significant of these is the declaration to begin negotiations on the economic cooperation agreement,” explained Makamba.
Makamba also noted that the visit would involve the signing of a new development framework, through which Tanzania will receive loans of up to USD 2.5 billion from the Exim Bank of Korea.
President Samia will also participate in the Africa-Korea Summit, where she will join a panel discussion and engage in talks with companies such as Samsung and Hyundai, as well as other institutions in Korea.
Additionally, President Samia is expected to receive an honorary doctorate from the Korea Aerospace Research Institute.
Trade between Tanzania and South Korea has grown in recent years, especially with support from the Exim Bank of Korea for various projects. Notable contracts include the issuance of national IDs and the construction of the 670-meter Tanzanite Bridge by Korean construction firm GS E&C, costing TZS 243 billion.
South Korea is also expected to support the establishment of Tanzania’s first Digital Training Institute, aimed at nurturing talented tech enthusiasts.
