Skopje, 13 October 2023 (MIA) - Deputy PM for Economic Affairs Fatmir Bytyqi hosted Friday a business delegation from the Republic of Korea, led by the President's Senior Secretary for Future Strategy Jang Sung Min, focusing on the alignment of the text of a memorandum that is set to lay the foundations of future economic cooperation.

"We aim to enhance the economic cooperation and bilateral relations. We have many common aspects - democracy, values, economic flows - and we also share the NATO values," said Sung Min after the meeting.

He expressed hope that the visit and cooperation would facilitate Korea's knowledge and experience sharing, but also "transfer of these values in the future cooperation with your country."

Deputy PM Bytyqi said the business delegation is consisted of representatives of world-renowned companies Hyundai, Samsung, LG, Lotte and the Korea Chamber of Commerce and Industry.

"I met Jang Sung Min this April and started the discussion on enhancing economic cooperation that is now resulting in alignment of the text of the cooperation memorandum that will be signed next week, thus laying the foundations of future economic cooperation between our countries," said Bytyqi.

The memo, he added, will intensify the already established trade and investment cooperation, with a focus on the automotive industry, tourism, energy and especially renewables, pharmaceutical industry and infrastructure.

The document also covers communication and cooperation among state authorities, professional organizations, chambers and associations, visits, contacts and activities to promote cooperation among companies, officials and economies.

"As NATO member, North Macedonia has a large potential to attract foreign investments. Our well-educated and qualified workforce makes us an attractive destination for foreign businesses. Companies operating in North Macedonia are high-tech and advanced companies that always create added value," noted Bytyqi.