Laos and South Korea have agreed to jointly develop a port management information system in the landlocked country.
Under a memorandum of understanding signed November 26 at the First Mekong-Republic of Korea Summit held in Busan, the two countries agreed to jointly develop and manage the system, as well as nurture talent, share information and know-how, and discuss how to source necessary resources.
Laos is currently pushing for a project to develop a river port in order to overcome the difficulties of inland logistics as a landlocked country.
Upon the Lao government’s request, South Korea has worked with Laos since October last year in planning and researching the ambitious project.
The MOU is expected to increase cooperation between two countries in maritime and fishery affairs, as well as encourage South Korean firms to participate in port development in Laos, said South Korea’s Ministry of Oceans and Fisheries.
The leaders of South Korea and the five Mekong nations, including Laos, agreed to prioritize cooperation in seven fields, stepping up efforts for synergy between Seoul’s development experience and the Mekong region’s huge growth potential.
The seven sectors are culture and tourism, human resources development, agriculture, and rural development, infrastructure, information and communication technology, environment, and non-traditional security challenges, according to a joint statement issued after the inaugural Mekong-Republic of Korea Summit in Busan.