Federal Authority for Land and Maritime Transport and Korean Ministry of Land Infrastructure sign MOU

ABU DHABI, 1st June 2015 (WAM)-- The Federal Authority For Land and Maritime Transport, and the South Korean Ministry of Land Infrastructure and Transport, MOLIT, have signed a Memorandum of Understanding, MOU. The agreement was signed by Dr. Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Public Works and the Korean Ministry of land infrastructure and transport, Yoo Il-ho. Dr. Al Nuaimi praised the existing cooperation between the UAE and Korea, saying that he hoped the MoU would contribute towards developing their bilateral relationships for the best interests of both countries and peoples, adding that these relationships witnesses strategic improvement thanks to the wise leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan. The MoU aims to strengthen the bilateral interests of the countries by exchanging policies, regulations, standards, techniques, and expertise in the transportation field, and strengthen cooperation between establishments working in the same sector, boosting competition both locally and internationally. The articles of the MoU include establishing a joint committee to supervise the execution of the agreement, constitute and follow up the affiliated teams, and organise committee meetings on a yearly basis or when necessary, provided that they will be presided over by the hosting party. Yoo Il-ho, Minister of Land Infrastructure and Transport in South Korea, said that his country is witnessing great success lately in all fields of cooperation. He also stressed that the UAE is the biggest market for South Korea in the Middle East, and the second biggest supplier of crude oil. – Emirates News Agency, WAM