MoUs to promote bilateral hydrocarbon and food trade
The Cabinet has approved on 13 Mar a Memorandum of Understanding between the Indian Government and the Royal Government of Bhutan on General Supply of Petroleum, Oil, Lubricants (POL) and related products to the landlocked South Asian Kingdom.
It aims to benefit India and its citizens with improved economic and commercial linkages with Bhutan irrespective of any gender, class or income bias, particularly in the area of hydrocarbon sector, said the Cabinet.
The MoU will promote bilateral trade in the hydrocarbon sector and will ensure secured and long-term supply of petroleum products to Bhutan.
The MoU will be a strategic fit as Energy Bridge in India’s Neighborhood First Policy, it said.
Further, the Cabinet approved another Memorandum of Understanding (MoU) between India and Bhutan on extending cooperation in the field of Energy Efficiency and Energy Conservation Measures.
As part of this MoU, India aims to assist Bhutan to enhance energy efficiency in the household sector by promoting star labeling programme developed by Bureau of Energy Efficiency.
The formulation of building codes, to suite the climate condition of Bhutan, will be facilitated based with India’s experience. Creation of a pool of energy professionals at Bhutan is envisaged by institutionalizing training of energy auditors.
The training of retailers would help in dissemination of energy efficient products with consumer audience regarding savings from star rated appliances. India aims to support Bhutan in its endeavor to develop and implement the Standards and Labelling scheme.
Energy intensive Appliances are the main products leading to higher consumption at household or at commercial establishments. In view of the rapid growth in energy intensive consumer goods, the demand for electrical energy has been increasing every year.
This rising demand can be optimized, if the consumers prefer high efficiency appliances. BEE is spearheading the country’s Star-labelling program that now covers 37 appliances used in daily life.
The MoU has been prepared by Ministry of Power in consultation with Ministry of External Affairs (MEA) and Department for Promotion of industry and internal Trade (DPIIT).
The MoU will enable exchange of Information, data and technical experts related to Energy Efficiency and energy conservation between India and Bhutan. It will help Bhutan to ensure availability of energy efficient products in the market.
The MoU will analyze energy efficiency policies and cooperation in the field of energy efficiency research and technology deployment.
Also approved was the signing of an Agreement between Bhutan Food and Drug Authority (BFDA) and Food Safety and Standards Authority of India (FSSAI) regarding cooperation in the areas of food safety.
The agreement will facilitate the trade between two neighboring countries.
BFDA will issue a Health Certificate as a proof of compliance with the requirements prescribed by FSSAI, while exporting the products to India, said the Cabinet.
This will promote Ease of Doing Business and will reduce compliance cost on both sides. fiinews.com
