India, China for MoUs in mining, tourism and traditional medicine fields

 The Dollar Business Bureau The Union Cabinet, chaired by the Prime Minister of India, on Wednesday, gave its approval for cooperation between India and China in various fields, in a move to enhance bilateral ties between the two countries. According to an official release, the Union Cabinet, chaired by Narendra Modi, has given its approval for cooperation in the fields of various fields, which include mines and mineral sector, traditional medicine, tourism, among others. In a move to encourage the cooperation in the above-mentioned fields, the Cabinet has given its approval for ‘signing a Memorandum of Cooperation (MoU) s, extension of tenure in the case of existing agreements. A MoU for cooperation between India and the People’s Republic of China, in the field of mining and mineral sector, will provide an institutional mechanism for both the countries to further enhance their existing cooperation in the sector. This MoU will further lead ways to exchange of information on resources, laws, policies through conduction of regular meetings, organising bilateral seminars and would further provide encouragement for technology transfers and promotion of value addition. Besides this, the Union Cabinet has also given its approval for ‘Extension of tenure of the MoU signed between India and the China State Administration of Traditional Chinese Medicine (SATCM) for Cooperation in Traditional Medicine.’ The signing of the proposed deal is expected to take the bilateral cooperation between the two countries, in the field of traditional medicine, to a different level. The Ministry of AYUSH, under the then GoI, as part of its mandate to propagate Indian systems of medicine globally, had signed a MoU with the SATCM of the People's Republic of China on January 14, 2008 during the visit of the then Prime Minister of India to China. This MoU got expired on January 13, 2013 after a completion of its validity period of 5 years and through the proposed move, the Ministry of AYUSH, under the current government, has sought to further develop and strengthen cooperation in the field of Traditional Medicine, informed the release. Besides, the Union Cabinet has also given its nod for enhancing tourism cooperation between India and China over exchange of information related to tourism, encouraging cooperation between tourism stakeholders of both the sides, investments in tourism and hospital sectors, among others. All these agreements are expected to be signed during the ongoing visit of the Indian Prime Minister to China, added the release.    

May 14, 2015 | 3:00 pm IST.