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CABEI and the Korean Ministry of Oceans and Fishing will promote Central American port development

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To promote cooperation, the MOF has already shown its willingness to co-finance the port development feasibility study and this co-financing scheme can work as a guide to attract Korean investors to this region.

Seoul, July 12 th, 2022. – The Central American Bank for Economic Integration (CABEI) and the Ministry of Oceans and Fishing (MOF) signed a Memorandum of Understanding to formalize an alliance that will contribute to port development, maritime logistics and fishing in the Central American region. 

The collaboration between CABEI and the MOF will enable the development of joint seminars and workshops, feasibility studies, as well as the formulation of master plans and the exploration of investment opportunities in the port sector.  

CABEI's Executive President, Dr. Dante Mossi, highlighted: "We are very excited about the signing of this collaboration agreement, since the Republic of Korea, with its extensive experience in port matters, will be able to transfer knowledge that will enhance connectivity with international trade, thus contributing to the region's economic development." 

As part of the transfer of knowledge, there are plans to receive exploratory missions between Central America and Korea that will lead to the development of personnel and information exchange programs in order to identify other areas in which effective and practical cooperation is possible, among others.