Dubai, Busan ink agreement
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Dubai and the City of Busan in Republic of Korea have inked an agreement that will pave way for expanding bilateral relations between the two cities in the areas of trade, economy, future technologies, tourism, ports and culture.
Hussain Nasser Lootah, Acting Director General of Dubai Municipality and Hur Nam-sik, Mayor of Busan, signed the protocol following talks between government officials from both cities and top company executives, businessmen and investors from the port city in Republic of Korea who were on a two-day visit to the emirate.
Mr. Lootah explained the agreement as a significant step in enhancing the existing cooperation between the two cities which have many things in common.
"Busan is a port city and has a large economic free zone and Dubai is also known for its free ports and many a free economic zones. An agreement like this will help boost exchange of expertise and sharing of best practices," said Mr. Lootah.
He noted that the municipality had been dealing with Korean firms in implementing civic projects since a long time.
Busan Mayor Hur Nam-sik said the city hosts the largest of port of Republic of Korea and Dubai's DP World is currently involved in a major multi-million dollar project to develop a second port in the city which is expected to be operational by 2011.
He noted that Busan, with a population of 3.7 million and located 400 kilometers away from capital Seoul, is also known as an industrialized city with a lot of such industries as ship-building, automobile and spare parts manufacturing.
"For both of us, this agreement represents a meaningful cooperation in the years to come. As Dubai is known as a fastest-growing tourist destination and a land of ambitious developments, we would be more than happy to learn from the city's experiences in various fields. We would benchmark some of Dubai's such accomplishments as Dubai Land for similar developments in our city," said Mr. Nam-sik.
The agreement provides for exchange of expertise between Dubai and Busan in fields like economy, trade, technology, environment, public health, culture, legislation, administrative systems, youth and sports. It also suggests exchange of visits by delegations from both cities and participation in scientific conferences and meetings that are organised by the two cities. Technical and technological support is also highlighted in the agreement in addition to exchange of information about the latest developments in this field. Cultural events like festivals and exhibitions will be held in both cities in order to familiarize the people with the culture and heritage of the two cities.The source of news : United Ara b Emirates November 13 - 2006 at 14:35
