Indian Economy News

Cabinet approves signing of MoU between India and Colombia in the field of agriculture and fisheries

New Delhi:  The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the signing of a Memorandum of Understanding (MoU) between India and Colombia in the field of agriculture and fisheries.

The MoU provides for cooperation in the following fields of agriculture and Fisheries:

  • Innovative agricultural practices/approaches,
  • New agricultural mechanizations,
  • Successful models of agricultural marketing,
  • To develop projects in association with agricultural companies for production of seed,
  • Innovative production models and value generation processes in horticulture(vegetables, fruits and flowers),
  • Exchange of information/exchange visits of SPS experts,
  • Jatropha and Karaya,
  • Cooperation in research in oil seeds and oil palm,
  • Marine Industrial Fishing, Aqua-culture and Research & Training in the field of Fisheries,
  • Small and large ruminants (cattle, sheep, goat) and pigs productivity, diseases and diagnostics and
  • Pork processing and value addition.

Under the MoU, a Joint-Working Group (JWG) will be constituted to prepare/finalize Work Plan for the next two years while specifying task/ activities to be undertaken during that period. The MoU will be initially valid for a period of five years and shall be automatically extended for a subsequent periods of five years unless either party expresses its desire/intention to terminate it.

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