The United States and the Republic of Korea have solidified their commitment to bolstering cooperation in India, formalising their dedication through the signing of a new Memorandum of Understanding (MOU) on February 20, 2024.
Facilitated by their respective international development agencies, the U.S. Agency for International Development (USAID) and the Korea International Cooperation Agency (KOICA), the partnership seeks to propel progress towards shared global development objectives.
The MOU delineates plans for USAID and KOICA to pool their resources and expertise, with a focus on advancing critical priorities within India.
These include initiatives centered on women's economic empowerment, disaster and climate resilience, digital literacy, and avenues for trilateral cooperation alongside the Government of India.
Through targeted interventions, the collaboration aims to bolster regional economic trade, cultivate innovative partnerships, mitigate climate vulnerabilities, and bolster local livelihoods through entrepreneurial and digital initiatives.
Commenting on the partnership, U.S. Ambassador to India, Eric Garcetti, highlighted its potential for catalysing meaningful change.
"The new Memorandum of Understanding signed today sets the stage for the United States and the Republic of Korea to harness the power of collaboration. This MOU, paired with India’s innovation and expertise, will serve as a catalyst for advancing critical emerging technologies, elevating STEM education initiatives, and unlocking opportunities for women entrepreneurs to not only expand their skill sets, but flourish in the pursuit of their dreams,” stated Ambassador Garcetti.
He underscored the significance of the MOU in driving advancements in emerging technologies, STEM education, and empowering women entrepreneurs.
Reiterating this sentiment, Republic of South Korea Ambassador to India, Chang Jae-bok, highlighted the strategic importance of joint development efforts in India.
The signing of this Memorandum of Understanding marks a significant milestone for the Republic of Korea, paving the way for joint development initiatives with the United States in India. As indispensable partners and allies in the Indo-Pacific region, we are committed to harnessing our respective strengths and resources to bring about positive transformations in key areas. These include women’s economic empowerment, disaster and climate resilience, and digital literacy. Through our collaborative endeavors, we aspire to play a role in advancing the overarching development agenda in India and fortifying the bonds of cooperation between our nations.” Ambassador Jae-bok remarked.
He highlighted the commitment of both nations to leveraging their strengths for positive transformations in areas such as women's economic empowerment, disaster resilience, and digital literacy.
In a move coinciding with the upcoming Women's History Month, the partners revealed the MOU's inaugural initiative: an exchange program for women entrepreneurs engaged in USAID/India programs.
This initiative is poised to provide participants with specialised training opportunities in South Korea, aimed at enhancing their business acumen and leadership skills.
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