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Ecuador, South Korea ink agreement on mining,oil co-op |
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09:57, December 12, 2007 |
Ecuador and South Korea signed a five-year agreement to boost cooperation on mining and oil, said Ecuadorian state energy company Petroecuador in a statement Tuesday.
According to the document, Ecuador and South Korea will exchange information, transfer technology, establish a database and promote their joint investment in oil and mining projects.
The agreement, signed by Ecuadorian Mines and Petroleum Minister Galo Chiriboga and South Korea's Commerce Minister Kim Young-ju, will be renewed automatically in 2012 unless one of the nations disagrees.
Source: Xinhua
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