|Published : 13 Apr 2017, 12:47:26|
Indian cabinet approves deal on hydrocarbon cooperation with Bangladesh
The Indian central cabinet approved Wednesday signing a deal with Bangladesh for cooperation in the hydrocarbon sector.
The deal- Framework of Understanding (FoU)- on Cooperation in Hydrocarbon Sector will be valid for five years, according to a report by news.webindia123.com.
The proposed FoU is non-binding in nature.
The main proposed of the FoU is to establish a cooperative institutional framework mechanism to facilitate and enhance India-Bangladesh bilateral cooperation in the hydrocarbon sector on the basis of equality and mutual benefit, a cabinet release said.
The FoU will promote bilateral cooperation at the sub-regional and regional levels.
It will provide impetus to development and enable the two countries to realize their developmental aspirations, shared destiny and common vision of a peaceful and prosperous South Asia.-Asfar