The Union Cabinet has given its ex-post facto approval to the Memorandum of Understanding (MoU) between India and Taiwan for cooperation in the field of Agriculture and Allied Sector.
Decision in this regard was taken at the Union Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi.
- The MoU will be singed between Taipei Economic and Cultural Centre in India and India Taipei Association in Taipei, Taiwan.
- It provides for cooperation in the fields of Agriculture, Animal Husbandry, Horticulture, Aquaculture, Fisheries and Food Processing, Genetic Resources as well as Environmental Sustainability.
- Both signatory parties will encourage the private sector in both countries to enter into cooperation in these areas.
- The cooperation between the two sides involves exchange of information, technology, visits and training and also expansion of agricultural trade while reducing trade barriers.
- The MoU will be in force for a period of 5 years and shall be automatically renewed for a subsequent periods of 5 years unless either party expresses its desire to terminate it.