The Ministry of Economy and Finance held a policy consultation on the Economic Development Cooperation Fund (EDCF)[1] during a visit to Rabat, Morocco, from September 23 to 24. The consultations involved meetings with Morocco’s Ministry of Economy and Finance, Ministry of Transport, Ministry of Energy, Ministry of Water, and the National Railway Office. This follows the bilateral agreement reached during the Korea-Africa Summit in June, which established the legal basis for EDCF support to Morocco.

The policy consultations focused on implementing the follow-up measures from the June summit, discussing the direction of economic partnership, key support areas, and potential cooperative projects. Priority partnership areas were determined, including energy, transportation, green industries, and digital sectors, which align with Morocco’s interests and Korea’s strengths. Discussions also centered on candidate projects that could be launched starting next year. In addition, consultations with Morocco’s ministries with significant project demand, such as the Ministry of Transport and Ministry of Energy, explored ways to expand the presence of Korean enterprises in Africa.

Beyond financial support through the EDCF, MOEF shared Korea’s growth strategies and major policies with Morocco’s Ministry of Finance, including the “Dynamic Economy Roadmap” and the “Economic Policy Directions”.

Starting with the Korea-Ethiopia policy consultation held on September 3, MOEF plans to continue enhancing economic ties with major African countries and supporting the expansion of Korean firms through ongoing policy consultations.