Australia, S Korea sign MoU on development cooperation

17:59, December 16, 2009      

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Australia and South Korea signed a memorandum of understanding (MoU) on development cooperation on Wednesday.

Australian Minister for Foreign Affairs Stephen Smith said in a statement on Wednesday the MOU was signed by him and his counterpart of South Korea Yu Myung-hwan which reflects the depth of the Australia-South Korea relationship and commits the two countries to better cooperation on international development assistance efforts.

It will provide the framework for greater cooperation on development assistance, he said.

Examples of likely cooperation include engaging on development aspects of the G20 agenda, particularly while South Korea chairs the G20 during 2010, and strengthening cooperation in disaster and emergency preparedness, response and management.

Wednesday's signing recognizes South Korea as an important emerging donor and development partner in Asia, Smith said.

The MoU is an outcome of the commitment made by Prime Minister Kevin Rudd and President of South Korea Lee Myung-bak to enhance Australia-South Korea security cooperation, as expressed in the Joint Statement on Enhanced Global and Security Cooperation.

Source: Xinhua
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