Cabinet approves MoU between India and Finland for strengthening cooperation in the field of Tourism

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Memorandum of Understanding (MoU) for strengthening cooperation in the field of Tourism.

Benefits:

The main objectives of the Memorandum of understanding, inter alia, are:

• Establish the basis for a cooperative relationship to encourage and promote successful bilateral cooperation in the field of tourism
• Sharing data; knowledge, expertise etc. related to tourism
• Sharing experiences in making polices, regulation and standards in planning, implementation and development of tourism policy
• Facilitating the identification and expansion of joint projects, pilots and partnerships between companies and organizations through visits, meetings, workshops, co-creation sessions and site evaluations
• Exchanging best practices through workshops and study visits for experts of Finland and India on the field of cooperation
• Encouraging development of partnerships in the context of multilateral development programs and projects of international Financial Institutions, in which both Participants have common interests

Background:

India and Finland have enjoyed a strong diplomatic and long economic relationship. The two parties now desiring to strengthen and further develop the established relationship have signed a Memorandum of Understanding between the Ministry of Tourism, Government of the Republic of India and the Ministry of Economic Affairs and Employment, Government for the Finland for strengthening cooperation in the field of Tourism.

Finland is one of the emerging inbound source markets for India. In 2018, 21239 Finnish tourists visited India. The signing of Memorandum of Understanding with Finland will be instrumental in increasing arrival from this source market.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.