CABEI and South Korea sign two memorandums to facilitate knowledge transfer

Seoul, South Korea, December 28, 2018.- The Central American Bank for Economic Integration (CABEI) signed two memorandums of understanding with the Republic of South Korea in order to establish cooperation to facilitate the development of programs that foster the sustainable economic growth of CABEI’s member countries.

The first agreement was signed with the Incheon Port Authority of South Korea with the objective of jointly contributing to the interchange of information about port and maritime transport projects.

The second document was signed by CABEI and the South Korean Ministry of Science and Information Technology and focuses on a cooperation framework to promote joint programs, projects, initiatives and activities that foster mutual cooperation.

It contemplates the development of knowledge-based products and services, including the  political, legal and institutional frameworks in which both parties have experience; and sharing information about the planning and implementation of national and regional policies, programs and projects that further areas of mutual interest.

In addition, there is expected to be an interchange of knowledge or technologies related with information and communications software for health, agriculture, education, public safety, broadband networks and other areas of common interest.

CABEI Executive President Dr. Dante Mossi referred to the agreements, noting that “the contracts will lead to improving the work in defining the transfer of Korean knowledge to the region through technical assistance regarding project formulation and management.” He added that, “We also expect to improve the entire region’s competitiveness.”

Both agreements were signed in the framework of  the formalization of South Korea’s incorporation to the Bank as a non-regional member.