MANILA, Philippines ? The Philippines and Papua New Guinea entered into a Memorandum of Understanding (MoU) that would enhance the cooperation between the two countries on the development of fisheries, Malacañang said.
Agriculture Secretary Arthur Yap and Papua New Guinea Fisheries Minister Ben Semri signed the MoU at the Shangri-La Resort and Spa in Boracay Island on Monday, following a bilateral meeting between President Gloria Macapagal-Arroyo and Papua New Guinea Prime Minister Michael Somare, the Palace said.
The MoU will facilitate technology transfer in aquaculture
development, promotion of shipping ventures, investments, technical training, joint research, and ?strategic complementation? of each country?s plans in the ?Coral Triangle? ? or the waters between the Philippines, Indonesia, and the Pacific Islands, according to a statement released by Malacañang.
?This Memorandum of Understanding on fisheries cooperation mirrors the commitment of both parties to the goal of securing a productive and sustainable future for their respective fishing industries through joint exploration, development and implementation of priority development undertakings,? the document read.
In a joint statement, Arroyo and Somare said the MoU would pave the way for future bilateral agreements on technical and development cooperation, taxation, investment promotion, and air services.
?Both leaders hoped that the state visit would also spur potential new exchanges of expertise such as university lecturers, teachers, doctors, technocrats, social and civil society workers,? the statement read.