Benin seeks to be stable gateway to West Africa, minister says

SEOUL, June 1 (Yonhap) -- Benin seeks to position itself as a stable gateway to the broader West African market, its foreign minister said Monday, highlighting political stability, investor-friendly policies and strategic location as key selling points to attract foreign investment.

Beninese Foreign Minister Corinne Amori Brunet also expressed hope to deepen cooperation with South Korea in investment, industrial development and cultural exchanges, as she emphasized the two countries' shared experiences in transformation and development.

"Benin may appear to be a small market if viewed in isolation, but it is much more than that," Brunet said in an interview with Yonhap News Agency on the sidelines of the Korea-Africa Foreign Ministers' Meeting in Seoul.

As a member of the Economic Community of West African States (ECOWAS) and the West African Economic and Monetary Union, Benin serves as a maritime gateway and distribution corridor for the wider West African region, she noted.

Brunet stressed that Benin's competitive edge lies in political stability, industrial transformation and regional connectivity, rather than in critical minerals or energy resources.

"Even if we were to conduct studies or geological assessments to determine whether we might have some critical minerals, that is not our focus today," she said. "We really focus not only on trade but also being able to attract investors that will address the regional markets."

Benin embarked on an extensive transformation about 10 years ago, focusing on infrastructure modernization, and creating a favorable environment and policy instruments to attract foreign direct investment from South Korea and other partners, the minister said, adding that reforms are being accelerated under the administration of President Romuald Wadagni.

She also highlighted the modernization of the Port of Cotonou, which has undergone major upgrades to support smart logistics and digital customs, and the Glo-Djigbe Industrial Zone, a flagship industrial hub, as well as the country's digitalized administrative system.

Calling Monday's ministerial meeting "an important milestone" following the 2024 Korea-Africa Summit, Brunet said the gathering offers an opportunity to translate previous commitments into concrete cooperation projects.

Brunet also expressed interest in expanding cultural exchanges with South Korea by leveraging Benin's cultural heritage and arts, recognizing South Korea's cultural influence across the globe.

The minister, in particular, mentioned her country's efforts to promote its contemporary art scene following the return of 26 historical artifacts from France in 2021, and suggested bringing a traveling exhibition inspired by the returned artifacts to Seoul.

"We share a common story with Korea. Korea transformed its national trajectory within less than a generation through discipline, reform and development. That is exactly what we have been doing over the past decade," she said.

South Korea was the first destination of her overseas trip since taking office last month under the new administration.