Cabinet approves MoU with Taiwan for agricultural cooperation

The Union Cabinet on Wednesday approved an MoU between Taipei Economic and Cultural Centre in India and India Taipei Association in Taipei, for cooperation in the field of agriculture and allied sectors.

"The MoU provides for cooperation in the fields of agriculture, horticulture, animal husbandry, fisheries, aquaculture and food processing, genetic resources as well as environmental sustainability," an official statement said after the meeting, chaired by Prime Minister Narendra Modi.

Both sides will now encourage their private sectors to enter into cooperation in these areas.

The cooperation involves exchange of visits, information, technology and training and also expansion of agricultural trade while reducing trade barriers.

A Joint Working Committee will also 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 MoU 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 to terminate it.

--IANS

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