Cabinet nod for India-Bangladesh pact in hydrocarbon sector

The Union Cabinet today approved signing an agreement with Bangladesh for cooperation in the hydrocarbon sector.

The non-binding Framework of Understanding (FoU) on Cooperation in Hydrocarbon Sector will be valid for five years, an official statement said here.

"The objective of the proposed FoU is to establish a cooperative institutional framework mechanism to facilitate and enhance India-Bangladesh bilateral cooperation in the hydrocarbon sector on the basis of equality and mutual benefit," it said.