South Korea and Saudi Arabia have signed an agreement on maritime transport that will, in part, help ensure a safe and steady supply of oil to South Korea from the Middle East country, the Seoul government said Wednesday.

The bilateral agreement was signed in Riyadh on Tuesday, the same day South Korean President Park Geun-hye arrived in the country for a two-day visit.

Under the agreement, the countries' ships and their crew members will be given national treatment when making port calls in each other's countries, while the countries will also recognize and accept sailor identification cards issued by the other nation.

According to the Ministry of Oceans and Fisheries, this will significantly enhance the safety of South Korean ships and their crew members in Saudi Arabia.

"In addition, it will contribute greatly to reducing the risk involved in shipping energy as the country imports over 2.8 million barrels of oil from Saudi Arabia each year, accounting for some 33 percent of its total oil imports," the ministry said in a press release, adding entire oil shipments from the Mid-Eastern country are currently transported by sea.

South Korea currently has bilateral maritime transport agreements with 21 other countries, including the United States, China and Russia. (Yonhap)