Addis Ababa, — The Ethiopian Railway Corporation and the Korea Railroad Corporation (KORAIL) have signed a Memorandum of Understanding which aims at improving the overall efficiency and reliability of Ethiopian rail services.

At the signing ceremony, Ethiopian Railway Corporation CEO Helina Belachew said the signing of the Memorandum of Understanding represents an important milestone in strengthening the cooperation and laying the groundwork for potential future agreements.

According to her, the partnership will bring tremendous benefits not only to the Ethiopian Railway Corporation, but also to the Ethiopian economy as a whole.

By improving the efficiency, safety, and sustainability of the railroad infrastructure, this collaboration is expected to stimulate economic growth and development in the region, she noted.

ERC is committed to facilitating this collaboration by working with the relevant authorities and providing the necessary support," Helina said.

Korea Railroad Corporation Chief Executive Officer, Moon hee-Han reaffirmed KORAIL's commitment to supporting the advancement of Ethiopia's railway infrastructure.

Korea-Ethiopia Railway Working Group is established to facilitate the sharing of railway information and business updates between the two nations, it was learned.

This group will serve as a forum for discussions and project status sharing between the railway systems of Korea and Ethiopia.

He further stated the need for collaborative exploration of railway projects to enhance pan-African railway cooperation through overseas development assistance.