Côte d'Ivoire economy is growing fast
Côte d'Ivoire aka Ivory Coast is among the top five countries that have achieved the highest economic growth rate over the years. The 7th report of the World Bank published on July 12, 2018 shows that Côte d'Ivoire achieved 7.8% growth rate last year. Taking the momentum, the country under the leadership of President Alassane OUATTARA is targeting to enter the emerging countries group by 2020 through strong institutions and effective administration. The country introduced the Senate through election held on March 24, this year and the people are to be called to the polls to renew the mandates of their local representatives on October 13 this year. Since January 1, 2018 Côte d'Ivoire has a seat of the UN Security Council as a non-permanent member and is playing the role in defending the cause of peace and security in Africa and in the world. As for the relations with South Korea, the two countries tied diplomatic relations on July 23, 1961 and have developed multifaceted cooperation that has been strengthened over time. The trade is intensifying year by year and Korean companies’ interest in the Ivorian market also is ever increasing. It is encouraging that an agreement was signed in February this year for the construction of a large radiotherapy and oncology center in Abidjan (capital city) at a cost of about US$110 million. Also, the launching of the Korea-Africa Foundation on June 25 this year is expected to play the channel for bridging Côte d'Ivoire to S. Korea for continuous cooperation in various fields. In his opening remarks at the 58th Anniversary of the Independence of the Republic of Côte d'Ivoire held at Lotte Hotel Seoul on August 7, H.E. Sylvestre KOUASI VILE, Ambassador of Côte d'Ivoire in Seoul said that he congratulated President Moon of his successfully holding the Inter-Korean summits held twice and the Côte d'Ivoire government was supporting the denuclearization of the Korean Peninsula and the normalization of relations between the North and the South. Koh Kyung-sok, Deputy Director General for African and Middle Eastern Affairs of the Ministry of Foreign Affairs, and Lee Ju-young, Deputy Speaker of the National Assembly and President of the National Assembly’s Forum for Africa’s New Era attended on the day to give congratulations. Koh said that he felt proud that the S. Korean government took part in development of Côte d'Ivoire’s economy pointing out the Korea’s building of 2 power plants as engines of the industrial development of Côte d'Ivoire. He also delivered thanks to the Ivorian government for supporting the Moon Administration’s policy on the Korean Peninsula, and quoted a saying of Félix Houphouët-Boigny, the First President of Côte d'Ivoire: “A talk is the weapon of the strong person.”