Algeria, South Korea ink five MoUs in various economic areas

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Five memoranda of understanding (MoU) have been signed Monday, in Algiers, between Algeria and South Korea in various critical economic areas. 

The signing of the Memoranda of Understanding took place in the presence of Prime Minister Ahmed Ouyahia and his South Korean counterpart, Lee Nak-yon. These agreements cover the areas of environment, customs, investment, compliance and accreditation, as well as cooperation in renewable energies.

The first document concerning cooperation in the field of environmental protection and sustainable development between the Ministry of Environment and Renewable Energies and its South Korean counterpart was signed by the Secretary General of the Ministry of the Environment and Renewable Energy, Kamel Eddine Belatrache and Korean Vice Minister of the Environment, Shan Kio Park.

The second document, signed between the Directorate General of Customs and the Customs Service of the Republic of Korea, concerns the modernization of the customs sector. The document was signed by the Director General of the Algerian Customs, Farouk Bahamid and the Korean Customs Delegate, Kim Yong Moon.

The third agreement, which is a memorandum of understanding for cooperation between the National Agency for Investment Development (ANDI), and the Korean Trade and Investment Enhancement Agency, was signed, on the Algerian side, by ANDI Director General Abdelkrim Mansouri and the Korean side by Biong Oh Koun, President of Korea’s Trade and Investment Enhancement Agency.

The fourth memorandum of understanding concerns cooperation between the Algerian Accreditation Body (Algiers) and the Korean Conformity Laboratories. The document was signed.

The fifth document, a memorandum of understanding between the Center for Renewable Energy Development (CDER) and the Korean Institute of Electronic Technologies, was signed by CDER Director General Noureddine Yassaa and the President of Korea Technology Center, Kim Youngsam.

As a reminder, the Prime Minister of the Republic of Korea, Lee Nak-Yon, began, Sunday, a three-day official visit to Algeria.

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