Union Road, Transport and Highways and Shipping Minister Nitin Gadkari and South Korea Oceans and Fisheries Minister Kim Young Suk signed a Memorandum of Understanding (MoU) on 13 April 2016 in Mumbai.
This MoU is for cooperation and mutual assistance between India and Republic of Korea in port related matters and their developments.
The Union Cabinet approved the proposal of the Shipping Ministry for signing of this MoU on 6 April 2016.
Objectives of the MoU
• It will help both countries to encourage and facilitate the development of ports, port related industry, and maritime relationship
• It will encourage cooperation in the tasks of sharing of technology, experiences in the fields of port development and operation.
• It will also help in exchange of information on construction, building, engineering and related aspects in the field of port development
• Enable exchange of information on joint participation in port-related construction, building and engineering projects that both parties are interested in
• Exchange of experts including officials from the relevant ministries of each country in the field of port.
• The other types of cooperation related education and training may be mutually agreed upon between the two countries.
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When: 13 April 2016