Targeting sustainable fisheries development, the Union Cabinet on Wednesday approved a pact signed between India and Iceland.
"The Union Cabinet, chaired by Prime Minister Narendra Modi, was apprised of a Memorandum of Understanding (MoU) signed between India and Iceland in the field of fisheries," an official statement said.
The pact was signed on 10th September, 2019.
"The MoU will strengthen the existing friendly relations between India and Iceland and will enhance consultation and cooperation on Fisheries including consultation on bilateral issues," it added.
The salient features of this MoU are creation of facilities for exchange of scientists and technical experts and their proper placement, especially in areas of estimating total allowable Catches in off shore and deep sea areas.
It also provides for training to fisheries professionals from key fisheries institutions in the various management aspects on areas of modern fisheries management and fish processing.
The MoU provides for exchange of scientific literature research findings and other information as well as exchange of experts/expertise to study the prospects of fishing.
The agreement seeks to promote processing and marketing of products from high seas fisheries for entrepreneurship development.