India, South Korea ink MoU for cooperation and mutual assistance in development of Ports

India and South Korea have signed a Memorandum of Understanding (MoU) for cooperation and mutual assistance in development of ports.
It was signed by Union Road, Transport and Highways and Shipping Minister Nitin Gadkari and South Korea Oceans and Fisheries Minister Kim Young Suk in Mumbai, Maharashtra.
Key facts

• The MoU will help both countries to boost maritime relationship as well as encourage and facilitate the development of ports, port related industry.
• It will encourage cooperation in sharing of technology, experiences in the fields of port operation and development.
• Facilitate exchange of information on joint participation in port-related construction, engineering projects in which both parties are interested in
• Encourage in exchange of information on construction, engineering, building and related aspects in the field of port development.

Month: Current Affairs - April, 2016