News

2019 January 13 13:29

Union Cabinet approves MoU on maritime issues between India and Denmark

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the Memorandum of Understanding (MoU) on Maritime issues between India and Denmark. The MoU is proposed to be signed during the upcoming visit of the WIP from Denmark to India in January, 2019, the PM press office website said in its press release.

Benefits
Signing of the MoU will pave way for both countries for exploration of areas for bilateral collaboration:


Background
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.In order to boost the bilateral trade between the two countries and to ensure cooperation and coordination in the maritime sector, it is proposed to enter into a bilateral MoU with Denmark.