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Cabinet okays inking 3 MoUs with Saudi Arabia

IANS  |  New Delhi 

The Union Cabinet, chaired by Narendra Modi, on Wednesday approved the signing of three Memorandums of Understanding (MoUs) with for strengthening cooperation in the fields of tourism, customs and investment.

The MoU would facilitate sharing information and expertise in tourism development, hotels, resorts and tourist accommodation facilities, tourism data and statistics, events and other tourism activities.

is one of the potential tourist markets for from

Another MoU is on establishing a mechanism for making investment in infrastructure in India, according to an official release.

The MoU will be a step forward in engaging with the institutions of to attract a potential investment into the infrastructure sector in the country.

It will lead to boosting infrastructure development in the country, creation of more jobs, growth of ancillary industries/ sectors which will lead to growth in GDP and overall economic prosperity.

The third MoU pertains to cooperation and mutual assistance in customs matters, said the release.

The Agreement will help in making available reliable, quick and cost-effective information and intelligence for the prevention and investigation of customs offences and apprehending of customs offenders.

The MoUs between the two are likely to be signed during the Saudi Abdulaziz Al Saud's visit to next week.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 14 2019. 00:08 IST