Qatar, South Korea Sign Memorandum of Understanding (MOU)

Doha, February 09 (QNA) -HE Minister of Energy and Industry Dr. Mohammed bin Saleh Al-Sada, and HE Minister of Knowledge Economy of the Republic of Korea , Sukwoo Hong, signed here on Thurssday a Memorandum of Understanding (MOU) on cooperation between the two countries in matters related to industry, energy and natural resources. HE Dr. Al-Sada said in an address on the occasion, "This cooperation agreement further enhances the existing bilateral relations between Qatar and Korea in the field of industry, energy and natural resources, marking another step in achieving the vision of HH Sheikh Hamad Bin Khalifa Al-Thani, the Emir of the State of Qatar, for the optimum utilization of the country's natural resources."... "I am confident that we will be able to identify and develop projects that would be mutually beneficial to both parties not only in the economic sense but also in the continued social development of our nations," the minister added. For his part , the south korean minister Sukwoo Hong voiced delight the MoU would contribute to enhance further cooperation and friendship between the two countries noting that signing of such a MoU would lead to expanding aspects of joint cooperation in future. A press release Qatar Petroleum (QP) issued today said that under the MOU, the two parties will establish a Joint Steering Committee, which will then organize two subcommittees, with one focusing on cooperation in industry and another on energy and natural resources. The subcommittees will be tasked to explore and identify projects in their respective cooperation sectors. This latest agreement replaces the previous MOU on Energy Cooperation, which was entered into by Qatar s Ministry of Energy and Industry and Korea s Ministry of Commerce, Industry and Energy in April 2006. The members of the Korea-Qatar Joint Committee on Energy Cooperation, which was established pursuant to the 2006 MOU, will constitute the Subcommittee for Energy and Natural Resources Cooperation under the new MOU. The signing ceremony, which was held at the Four Seasons Hotel Doha, was attended by members of the Korean delegation as well as by senior officials of Qatar Petroleum, and Ministry of Industry and Energy of the State of Qatar. (QNA)