Aquino, Park witness signing of MOU in the field of sports

SEOUL, South Korea, (PNA) — President Aquino and South Korean President Park Geun-hye witnessed Thursday the signing of a Memorandum of Understanding (MOU) between the Philippine Sports Commission, the Ministry of Culture Sports, and Tourism of the Republic of Korea to strengthen the existing friendly relations between the two countries and to promote mutual understanding between their people.

The Memorandum of Understanding also aims to expand cooperation between the Philippines and Korea in the field of sports on the basis of equality and mutual benefit.

It was signed by Foreign Affairs Secretary Albert del Rosario on behalf of the Philippines and Minister Yoo Jinryong of Korea’s Ministry of Sports, Culture and Tourism at the Blue House.

Under the agreement, both countries will encourage the exchange of experts, specialists and technicians in the field of sports, and will likewise endeavor to provide the necessary facilities for training of athletes of the other country as may be jointly decided.

In the same agreement, there will be an exchange of sports teams, athletes and sport specialists on the basis of arrangements between the sports organizations and clubs of the two countries.

Cooperative activities carried out under the MOU will be subject to the availability of financial and human resources of both countries.

The agreement also stipulates that any dispute arising from the interpretation or implementation of the memorandum of understanding will be settled through consultations between the two countries.

The MOU will be carried out within the framework of the respective laws and regulations of the two countries.