India-Spain Current Affairs

Union Cabinet approves MoU between India and Spain on cooperation in renewable energy

The Union Cabinet has approved Memorandum of Understanding (MoU) between India and Spain on India-Spain Cooperation in renewable energy. The MoU was signed in May 2017 at Spain.

The MoU aims at strengthening bilateral cooperation between both countries with the exchange of expertise and networking of information in field of in renewable energy.

Key Facts

Under the MoU, both sides will establish the basis for a cooperative institutional relationship to encourage and promote bilateral cooperation on new and renewable energy issues on the basis of mutual benefit equality and reciprocity. The MoU also envisages establishing a Joint Working Committee (JWG) to review, monitor and discuss matters relation to areas of cooperation.

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India and Spain Sign Seven Agreements

India and Spain have signed seven agreements following talks between Prime Minister Narendra Modi and his Spanish counterpart Mariano Rajoy at the Moncloa Palace in the Spanish capital.

The visit of Prime Minister Narendra Modi is the first visit by an Indian Prime Minister to Spain in nearly 30 years. The last Prime Minister to visit Spain was Rajiv Gandhi in 1988. Earlier, PM Modi and the Spanish prime minister had met on the sidelines of the G20 Summit in Turkey in November 2015.

Prime Minister Narendra Modi has welcomed Spain’s infrastructure, tourism, energy and defense companies to invest in priority sectors in India. Spain is India’s 7th largest trading partner in the European Union. Bilateral trade between both the nations have totalled USD 5.27 billion in 2016. 

Agreements

  • Agreement for Transfer of Sentence Persons
  • MoU on Cooperation in Organ Transplantation
  • MoU on Cooperation in Cyber Security
  • MoU on Cooperation in Renewable Energy
  • MoU on Technical Cooperation in Civil Aviation
  • Agreement on visa waiver for holders of diplomatic passports.
  • MoU between Foreign Service Institute and Diplomatic Academy of Spain.

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