The Union Cabinet today approved an array of international agreements, including the one on rail safety between India and Japan. The agreement with Japan, signed in February but approved by the Cabinet today, will focus on cooperation on track safety. Core Indian personnel involved in track and asset safety will get trained in the latest techniques in Japan. Another memorandum of understanding which received the ex post facto approval of the cabinet is between India and Malaysia on the development of a urea and ammonia manufacturing plant in Malaysia with off take to India.
The signing of MoU will ensure consistent supply of urea and ammonia to cater the need of the country at a lower price, if agreed to by both the participants. The Cabinet also approved renewal of MoU between the Institute of Chartered Accountants of India (ICAI) and Higher Colleges of Technology (HCT), United Arab Emirates.
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As part of the renewed agreement, ICAI will recommend introduction of new/revised courses and modules that will facilitate HCT students to write ICAI’s Technical professional Examination with aim to acquire its membership.
Another MoU approved is between India and Spain on cooperation in the sphere of civil aviation, which the government said has the potential to spur greater trade, investment, tourism and cultural exchanges between the two countries.
The Cabinet also accorded ex post facto approval to an agreement between the Defence Services Staff College, Wellington and Defence Services Command and Staff College, Dhaka for Cooperation in military education.
The approval also came for an MoU on third line of credit of USD 4.5 billion to Bangladesh for implementation of developmental projects. The MoU was signed during the visit of the Prime Minister of Bangladesh to New Delhi last month.