Kenya and South Korea on Tuesday signed seven Memorandum of Understandings (MOUs) aimed at enhancing cooperation and economic ties.
The deals were inked during South Korean President Park Geun-hye’s visit to Kenya, where she held talks with her Kenyan counterpart Uhuru Kenyatta.
The MOUs cover areas including science and technology, trade and investment, higher education, health, electricity and nuclear energy development, according to a statement from President Kenyatta’s office.
Exchanges between research and development institutes in Kenya and South Korea and education and training programs are part of the terms of the MOUs, according to the statement.
Kenyan officials said the deals would help boost Kenya’s efforts to become a regional economic, industrial and technological powerhouse.
One of the MOUs will see the Export-Import Bank of Korea pump an initial 50 million U.S. dollars into Kenya’s agricultural sector to help improve food security.
Some other deals will see the two countries work together in developing textiles, food processing, leather processing, automobiles and electronics industries.
“The two countries will also cooperate in developing industrial complexes and special economic zones,” the statement said.
The MOU on electricity and nuclear energy development will enable Kenya to benefit from South Korea’s expertise in power generation, it said.
And the deal on health seeks to scale up the two countries’ cooperation in diagnosis and treatment of non-communicable diseases, it added.
“Kenya will also benefit from Korea’s support in screening and cryotherapy for cervical cancer, diagnostics capacity building for imaging and nuclear medicine,” it said.
In another development, South Korean companies on Tuesday started the construction of a 1.8 million U.S. dollar vocational training center in the Kenyan capital Nairobi.
The companies hope the vocational training center will help alleviate unemployment, particularly among young people.
Source: Nam News Network