India, Chile to ink MoU for cooperation in agriculture and allied sectors

New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the signing of a Memorandum of Understanding (MoU) between India and Chile for cooperation in the field of agriculture and allied sectors.The MoU provides for cooperation of both countries in the field of agriculture and related sectors. The main areas of cooperation both the governments are looking at are agricultural policies for development of modern agriculture, organic agriculture to facilitate the bilateral trade of organic products, as well as to promote the exchange of policies aimed to develop organic production in both countries, science and innovation to explore partnerships and to promote innovation in the agricultural sector among Indian institutes and Chilean institutes.The two nations will also collaborate to confront common challenges in the field of agriculture.According to the MoU, a Chile-India Agricultural Working Group will be set up which will be responsible for the supervision, review and assessment of the implementation of this MoU as well as for establishing frequent communication and coordination between both countries.The meetings of the Agricultural Working Group will be held once a year alternatively in Chile and India.The MoU shall come into force upon being inked and shall remain in force for a period of at least five years from the date of execution after which it shall be automatically renewed for a further period of 5 years, an official statement read.Read all the Latest News, Trending News, Cricket News, Bollywood News,India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.