Port Development Current Affairs
India and South Korea signed mutual recognition of certificate of competency of seafarers to provide Indian seafarers employment on over 500 Korean ships. It was signed during four-day visit of Shipping, Road Transport & Highways Minister Nitin Gadkari to South Korea.
The agreement will boost bilateral ties between both countries in ports and shipping space as they are eyeing partnerships in shipbuilding, waterways and smart transportation, among others. It will be beneficial to both countries as South Korea is large ship owning nation, while India is large seafaring nation with over 1.5 lakh seafarers. The pact will help in creating job opportunities for Indian seafarers and also pave way for recognition of maritime education and training through various certificates issued for seafarers by governments of both countries.
Shipping, Road Transport & Highways Minister Nitin Gadkari’s visit to South Korea was aimed at strengthening ties between two nations and cooperation in areas, including sharing of technology, experience in port development and operation and joint participation in port-related construction, building and engineering projects etc. It also focused on taking forward bilateral cooperation between India and South Korea in shipping, ports, inland waterways, highways, river interlinking and infrastructure sectors.
India and South Korea have institutional framework for cooperation through MoU for cooperation and mutual assistance to facilitate development of ports, port-related industries and maritime relationship. South Korea is known for maritime technology prowess, had partnered with Ministry of Shipping in Maritime India Summit held in Mumbai during April 2016.
India and South Korea have signed a Memorandum of Understanding (MoU) for cooperation and mutual assistance in development of ports.
It was signed by Union Road, Transport and Highways and Shipping Minister Nitin Gadkari and South Korea Oceans and Fisheries Minister Kim Young Suk in Mumbai, Maharashtra.
- The MoU will help both countries to boost maritime relationship as well as encourage and facilitate the development of ports, port related industry.
- It will encourage cooperation in sharing of technology, experiences in the fields of port operation and development.
- Facilitate exchange of information on joint participation in port-related construction, engineering projects in which both parties are interested in
- Encourage in exchange of information on construction, engineering, building and related aspects in the field of port development.