Signing Memorandum of Understanding on Cooperation Between Asia-Pacific Space Cooperation Organization (APSCO) And Hong Kong Aerospace Technology Group Limited (HKATG) (1725.HK)
Rhea-AI Summary
The Asia-Pacific Space Cooperation Organization (APSCO) conducted its 16th Council Meeting in Pakistan on November 15-16, 2022, where leaders signed a memorandum of understanding with Hong Kong Aerospace Technology Group (HKATG) to enhance cooperation. This MOU aims to develop the Asia-Pacific aerospace industry, focusing on satellite manufacturing, telemetry services, and education initiatives. HKATG will collaborate with APSCO to co-name the Golden Bauhinia-1 05 satellite, set for launch in December 2022, enhancing support for economic development within member states.
Positive
- MOU strengthens cooperation with APSCO, enhancing aerospace development in the Asia-Pacific.
- Joint efforts in satellite manufacturing and applications could lead to increased market opportunities.
- The collaboration aims to improve economic development and national modernization for member states.
Negative
- None.
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HONG KONG, Nov. 17, 2022 /PRNewswire/ -- The Asia-Pacific Space Cooperation Organization (APSCO) is an intergovernmental non-profit international organization, composed of countries in the Asia-Pacific region. The APSCO Council is the highest decision-making body for APSCO and is composed of ministers or ministerial representatives of member states responsible for space affairs. Following the APSCO Leadership Development Forum, the 16th Council Meeting of APSCO was held in Pakistan from November 15 to 16, 2022, with the participation of representatives from its member states.
On 16th November 2022, under the joint witness of Mr. Jose Antonio Garcia Morgan, Chairman of APSCO Council and Director of the Peruvian Space Agency (CONIA), all member states of APSCO Council and all delegates, Mr. Sun Fengquan, Co-Chairman and Chief Executive Officer of HKATG (1725.HK), and Ms. Yu Qi, Secretary General of APSCO, signed a memorandum of understanding on cooperation, focusing on providing satellite manufacturing and telemetry, tracking, and command services, building the Asia-Pacific aerospace industry chain, carrying out capacity building, conducting education and training, and continuing international cooperation projects to carry out all-round cooperation.
The signing of the MOU was actively supported and widely welcomed by all the participants, and it is of great significance: First, comprehensively deepen the cooperation between the HKATG and APSCO, and contribute to the development of global commercial aerospace; Second, strive to contribute to the economic development, livelihood security and national modernization of APSCO member countries, by taking full advantages of HKATG; Third, provide high-quality services to member states in satellite constellation applications, satellite manufacturing and precision manufacturing, and satellite launch site services.
Under the framework of this MOU, HKATG and APSCO will co-name the Golden Bauhinia-1 05 satellite to be launched in early December 2022 with the suggested name "Golden Bauhinia 05/APSCO-1". And HKATG will cooperate with APSCO and its member states to explore the possibilities of specific cooperation and sign project cooperation agreements around constellation co-naming and application services, satellite manufacturing, joint construction of space industry chain, joint development of space education, and other aspects.
View original content:SOURCE Hong Kong Aerospace Technology Group
FAQ
What was the purpose of the MOU signed between APSCO and HKATG on November 16, 2022?
When is the Golden Bauhinia-1 05 satellite scheduled to be launched?
How will the cooperation between APSCO and HKATG impact member states?
What services will HKATG provide under the MOU with APSCO?
Where was the 16th APSCO Council Meeting held?
