Memorandum of Understanding between India and Korea on cooperation in the fields of maritime transport and logistics
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today gave its approval for signing of a Memorandum of Understanding (MoU) for cooperation with the Republic of Korea in the fields of maritime transport and logistics. The MoU envisages cooperation in the fields of maritime transport and logistics between the two countries, to enhance cooperation between the two countries in:
i. the fields of maritime transport and logistics through sharing of technologies,
ii. information and experiences,
iii. training of seafarers and port operation,
iv. development of relationship in the field of international maritime transport on the principle of equality and mutual benefits,
v. facilitate cooperation and partnerships between the maritime transport and logistics-related organizations and companies of the two countries,
vi. utilization, development and management of domestic and overseas ports,
vii. joint businesses,
viii. exchange of experts in the field of maritime transport and logistics,
ix. conducting research on maritime developments and
x. other forms of cooperation that may be jointly decided upon by the two sides.
