Zimbabwe has signed memorandums of understanding (MOUs) with four companies from the Republic of Korea (ROK) to boost bilateral cooperation in telecommunications, mining, tourism, agriculture and manufacturing.

Speaking at the signing ceremony on Saturday, the Reserve Bank of Zimbabwe governor Gideon Gono said Zimbabwe was considering to import substantial consignments of agricultural equipment, fertilizers and telecommunications equipment, among a broad range of deals enunciated under the MOUs.

He said the objective was to strengthen ties with the oriental country as several economic development lessons could be drawn from it.

The ROK has high levels of technological and infrastructural advancement, and it would be able to invest in different spheres of the economy in Zimbabwe, the Sunday Mail reported.

The proposed business partnership between Zimbabwe and the ROK came after a delegation of local investors led by Gono visited the ROK in May this year.

Source: Xinhua