South Korea interested in energy and industry investments in São Tomé

8 August 2006

São Tomé, São Tomé and Príncipe, 08 Aug – South Korea and São Tomé and Príncipe signed this week a protocol on investments in the African island nation, mainly in the energy, industry, agriculture and services sectors, the Tela Non newspaper reported.

The note of understanding between the two countries was signed by São Tomé’s minister of natural resources and the environment, Manuel de Deus Lima, and by the South Korean deputy minister of trade, industry and energy, Wong Gul-Le, who headed a 13-member delegation, the daily added.

Lima stated that the development indicators presented by South Korea were “encouraging”, and that São Tomé could thus “benefit from the future cooperation and new agreements with South Korea.”

The South Korean delegation was also received by Prime Minister Tomé Vera Cruz, who was invited to visit South Korea at a date still to be determined.

São Tomé was visited last week by an official delegation from Libya, which granted a US$300,000 aid package for its fisheries sector.

It is now awaiting Libya’s reply to another request for fishing equipment and support for the state budget. (macauhub)