Government today approved pact with Taiwan for cooperation in the field of agriculture and allied sectors.
The Memorandum of Understanding (MoU) provides for cooperation in the fields of agriculture, horticulture, animal husbandry, fisheries, aquaculture and food processing, genetic resources as well as environmental sustainability, according to an official statement.
“The Union Cabinet has given its ex-post facto approval to MoU between Taipei Economic and Cultural Centre in India and India Taipei Association in Taipei, Taiwan for cooperation in the field of agriculture and allied sectors,” it added.
The cooperation between the two sides involves exchange of visits, information, technology and training and also expansion of agricultural trade while reducing trade barriers, it said adding that both sides will also encourage the private sector in both countries to enter into cooperation.
Under the MoU, a Joint Working Committee will be constituted to identify priority areas of mutual interest and follow up on the progress of implementation of the activities identified by both sides.
The pact will be initially signed for a period of five years and shall be automatically renewed for a subsequent periods of five years unless either party expresses its desire/intention to terminate it, the statement said.
Source: Financial Express