KOTRA opens 126th office in Ivory Coast
KOTRA Vice President Lee Tae-sik, fourth from right, cuts the tape with Ivory Coast government officials during an opening ceremony for KOTRA’s office in Abidjan, Ivory Coast. / Courtesy of KOTRA
By Lee Hyo-sik
The Korea Trade-Investment Promotion Agency (KOTRA) has opened its 126th overseas office in Abidjan, the largest city of Ivory Coast, to support the increase in Korean companies looking to make inroads into rapidly growing West Africa.
KOTRA Vice President Lee Tae-sik was among those who attended the opening ceremony in Abidjan, Thursday (local time).
“Our Abidjan office will help builders and other local companies enter Ivory Coast and other nearby West African nations,” Kim told more than 150 participants, including Ivory Coast government officials and business leaders, at the ceremony. “We think Korean businesses can find lucrative business opportunities in the areas of pharmaceuticals, construction equipment, machinery and consumer goods. We will play a vital role in providing necessary support to domestic firms in West Africa.”
Ivory Coast has been growing more than 8 percent annually since 2012, one of the most vibrant economies in West Africa, according to KOTRA.
The world’s largest producer of coffee and cocoa has been implementing a wide range of construction projects to develop its residential and business infrastructure.
Hyundai Engineering, Korea Electric Power Corp., Halla and other infrastructure-related Korean companies have established a presence in the African nation, with more looking to enter the largely unexplored market.
KOTRA’s Abidjan office will cover Senegal and six nearby countries, offering market and regulatory information to Korean businesses.