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S. Korean firms showcase products at AfDB meeting

All Headlines 14:52 May 22, 2018

SEOUL, May 22 (Yonhap) -- A South Korean traders association opened an exhibition hall Tuesday to promote the country's high-tech products during the annual meeting of economic ministers and bank chiefs from Africa in Busan, it said.

The exhibition, co-organized by the finance ministry, will be held for four days in the southeastern port city where the 53rd annual meeting of the African Development Bank (AfDB) is under way, the Korea International Trade Association (KITA) said.

According to KITA, 92 companies, including Korea Aerospace Industries, Ltd. and Hancom Inc., are taking part in the exhibition.

Economy ministers from 35 African nations gathered in the city, some 450 kilometers south of Seoul, to discuss ways to bolster the continent's industrialization and economic cooperation with South Korea. The five-day meeting, which kicked off Monday, is the fifth to be held outside Africa.

The AfDB was established in 1964 to contribute to the economic and social development of Africa through promoting investment with 54 member countries from the continent and 26 from outside the region. South Korea joined the organization in 1984.

Participants in the annual meeting of the African Development Bank (AfDB) arrive at the BEXCO convention center in Busan, some 450 km south of Seoul, on May 21, 2018, for the event's opening. More than 4,000 economic officials and business leaders from Africa and other nations will attend the five-day gathering this year, themed "Accelerating Africa's Industrialization." (Yonhap)


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