Narendra Singh Tomar, India’s Minister of Agriculture and Farmers Welfare has signed a Memorandum of Understanding with Dr. Mahendra Reddy, Fiji’s Minister for Agriculture, Waterways & Environment in a virtual meeting on June 22.
This MoU is valid up to 5 years from the date of its signing, provides for Cooperation in Agriculture and allied sectors such as Dairy industry, Water resources Management, Horticulture industry, Post-Harvest Management, Agriculture research, Agriculture mechanization and much more.
Benefits of MoU
MoU will encourage the transfer as well as exchange of technology, research professionals, scientists and agriculture specialists. This would also help in development of infrastructure for agriculture development and promote joint ventures between private sectors of both countries.
It would also attract investment in marketing and value addition/ downstream processing of agriculture commodities, also promote capacity development in all areas of agriculture. This MoU also aims to promote the direct trade access of agriculture products through market access as well as planning and development of research proposals and execution of research projects and programs. It would also focus on the phytosanitary (plant health) issues.
Under this MoU, a joint working group will be established to set procedures and plan and recommend programs of cooperation towards achieving its goals through the agencies of both countries. A meeting of this group will be held alternatively in India and Fiji every 2 years.
What is an MoU?
A Memorandum of Understanding is a formal agreement between 2 or more parties. It indicates that the parties have reached an understanding, although it is not a legal binding. It describes the broad outlines of an agreement that the parties have negotiated. It is mostly found in international relations. It conveys the mutually accepted expectations of the people, organizations, or governments involved. It allows all parties to clearly state all of their objectives and goals. This helps to prevent any disputes that might arise in future. This contract is imminent.
