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India-Denmark: MoU approved on maritime issues-bilateral trade

MoU to be signed in January 2019

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MoU to be signed in January 2019

 

The Cabinet has approved a Memorandum of Understanding (MoU) on Maritime issues between India and Denmark, which will also boost shipbuilding capacity and bilateral trade.

The approval was announced on 10 Jan 2019 in New Delhi. It will be signed in January 2019.

The MoU will pave way for both countries for exploration of areas for bilateral collaboration:

facilitating cross-border cooperation and investments between the maritime sectors of India and Denmark;
enabling both the countries to exchange expertise, publications, information, data and statistics to improve mutual capabilities for ensuring quality shipping;
cooperation in the field of green maritime technology and shipbuilding, granting the Indian Register of Shipping (IRS) the status of Recognized Organization (RO), cooperation in the fields of maritime training and education;
research and development for sustained cooperation in the field of merchant shipping and maritime transport related matters.

It will also further extend and deepen the cooperation on the opportunities of mutual benefits to both the countries, at both bilateral and international level.

Denmark is one of the important trading partners with India.

Major Danish exports to India include medicinal, pharmaceutical goods, power generation machinery; industrial machinery, metal ores, organic chemicals, etc.

Major Indian exports to Denmark include apparels, textiles, fabrics, yarns, road vehicles and components, metal goods, iron and steel, footwear and travel goods.

The MoU aims to boost the bilateral trade between the two countries and ensure cooperation and coordination in the maritime sector. fiinews.com

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