Democratic Republic of Congo (DRC) President Joseph Kabila asked South Korea on Thursday to boost its investment in his mineral-rich but war-ravaged country, officials said.
In a meeting with President Roh Moo-Hyun that focused on economic cooperation, Kabila urged Seoul to increase its trade and investment to help his country’s development, they said.
”People from both sides should mutually benefit each other. I hope the relations with South Korea will contribute to the economic development in the Democratic Republic of Congo,” Kabila was quoted as telling Roh.
Trade between Seoul and Kinshasa was worth $3,04-million in 2004, with South Korea importing raw materials and exporting electronic goods and shoes, according to foreign affairs ministry data.
The two sides on Thursday also signed an accord on enhancing bilateral cooperation in developing natural resources in the African state, the South Korean commerce, industry and energy ministry said.
The DRC has the world’s largest reserves of cobalt and diamonds and is abundant in other minerals such as tantalum and niobium.
Kabila arrived in Seoul on Wednesday from Tokyo, where he made a similar call for investment.
He met South Korean business leaders in Seoul on Thursday and plans to hold an investment forum and tour industrial sites during a five-day visit that ends on Sunday.
The DRC, formerly Zaire, has been rebuilding its economy under a fragile peace process started in December 2003 after a five-year civil war that claimed millions of lives. — Sapa-AFP