Tunisia - The Foreign Investment Promotion Agency (FIPA-Tunisia) and the Busan Economic Promotion Agency (BEPA) signed on Tuesday in the Government Palace in Kasbah a memorandum of understanding aimed at boosting foreign investment.

The agreement was initialled by FIPA Director General Jalel Tebib and JIN Yang Hyum, in the margins of the 2nd "Tunisia Korea Africa Business Forum".

It aims to establish a practical framework for the development of business relations between the two parties and to define cooperation procedures for the expansion of investment relations between Tunisia and Busan, the strengthening of institutional relations and capacities through mutual cooperation, FIPA said Tuesday.

The cooperation covers, in particular, capacity building and technical assistance activities, exchange of visits of officials and experts, exchange of information on investment policies, incentives and opportunities, as well as statistics and updated trade data concerning Tunisia and Busan.

The agreement also covers the exchange of technical expertise, knowledge and training opportunities between the respective members of the two bodies in the fields of investment promotion, facilitation and investor monitoring.

Both parties also agree to provide an annual economic profile report which includes economic data and trade and investment-related information.

The implementation of this MoU will be ensured by a coordination and monitoring unit composed of officials and resource persons designated by each party. This unit will draw up an action plan specifying the priority activities to be carried out within the framework of this memorandum.

Currently, six Korean companies are established in Tunisia, which have generated an investment amount of 83 million dinars and have created 2329 jobs.

Two other memorandums of understanding between Tunisia and Korea were also signed on Tuesday at the Government Palace in Kasbah, as part of the work of the second edition of the "Tunisia Korea Africa Business Forum", held under the aegis of Prime Minister of Tunisia Najla Bouden and the Mayor of Busan Park Heong Joon.

© Tap 2022 Provided by SyndiGate Media Inc. (Syndigate.info).