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Greece And South Korea Sign Maritime Pact

by Lorys Charalambous, Tax-News.com, Cyprus

06 September 2006


The governments of Greece and South Korea have inked an agreement which aims to boost bilateral ties in shipping and trade.

The maritime agreement, signed on Monday by Greek Merchant Marine Minister Manolis Kefaloyiannis and his counterpart Kim Sung-jin, aims to improve cooperation in the field of maritime transport.

"We believe we can increase co-operation in this field as well as in other areas, like technology," South Korea's President Roh Moo-hyun said on Monday following a meeting with his Greek counterpart President Karolos Papoulias, during the former's three-day official visit to Athens.

“We hope that Greece’s political, economic and geographical advantages will motivate South Korean investment,” President Karolos Papoulias added after the talks with Roh.

According to Greek government figures, annual trade between the two countries is worth about $1.8 billion a year, with orders from South Korean shipyards accounting for a large proportion of this trade.


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