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11-05-23

Saudi Arabia, South Korea sign MoUs to strengthen cooperation in transportation, logistics sectors

(MENAFN) Saudi Arabia and South Korea have signed two memorandums of understanding (MoUs) to strengthen their cooperation in the fields of mobility and roads. The agreements were signed during a joint investment tour that began on May 9 in Seoul, with the aim of elevating business opportunities in the transport and logistics sectors. The tour was launched in the presence of Saudi Arabia's Minister of Transport and Logistics Services, Saleh Al-Jasser, and South Korean Minister of Land, Infrastructure and Transport, Won Hee-ryong.

The first MoU focuses on supporting and adopting the latest mobility technologies using clean energy and exploring areas of expertise for cooperation in innovation, research, and development. Under the deal, both Saudi Arabia and South Korea will work together to embrace modern technologies in the transportation and logistics services sector. The aim is to improve efficiency, reduce costs, and enhance the quality of services provided to customers.

The second MoU aims to exchange expertise in the areas of road construction, asset management, operation, maintenance, and road safety. It also includes developing the Saudi road research center. By sharing knowledge and best practices in these areas, both countries hope to improve the quality of their road infrastructure and enhance road safety for all users.

During the launch ceremony, Al-Jasser emphasized that strengthening the relationship with South Korea is one of Saudi Arabia's top agendas. He noted that both countries have maintained strong bilateral relations for the past six decades and expressed optimism about the potential for increased cooperation in the future. Minister Hee-ryong praised the level of bilateral relations and cooperation between the two countries in all vital sectors. He also lauded Saudi Arabia for developing infrastructure in various fields, including transportation and logistics services, in line with the goals outlined in Vision 2030.

The signing of these MoUs reflects the commitment of both Saudi Arabia and South Korea to strengthening their partnership and cooperation in the transport and logistics sectors. By working together to adopt the latest technologies and exchange expertise, both countries can improve their infrastructure, enhance the quality of services provided, and create new business opportunities. As the global economy continues to face numerous challenges, partnerships like this one will be critical for driving growth and promoting sustainable development.
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