The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its ex-post facto approval to the Memorandum of Understanding between Taipei Economic and Cultural Centre in India and India Taipei Association in Taipei, Taiwan for cooperation in the field of Agriculture and Allied Sector.

The MoU provides for cooperation in the fields of Agriculture, Horticulture, Animal Husbandry, Fisheries, Aquaculture and Food Processing, Genetic Resources as well as Environmental Sustainability. Both sides will encourage the private sector in both countries to enter into cooperation in these areas. The cooperation between the two sides involves exchange of visits, information, technology and training and also expansion of agricultural trade while reducing trade barriers.

Under the MoU, a Joint Working Committee will be constituted to identify priority areas of mutual interest and follow up on the progress of implementation of the activities identified by both sides. The MoU will be initially signed for a period of five years and shall be automatically renewed for a subsequent periods of five years unless either party expresses its desire/intention to terminate it.

Memorandum of Understanding on agricultural cooperation establishes exchange, technology transfer and a joint working committee for implementation. A Memorandum of Understanding was approved ex post facto to establish bilateral cooperation in Agriculture and Allied Sectors covering Agriculture, Horticulture, Animal Husbandry, Fisheries, Aquaculture, Food Processing, Genetic Resources and Environmental Sustainability, promoting private sector participation, exchange of visits, information, technology and training, expansion of agricultural trade and reduction of trade barriers; a Joint Working Committee will identify priority areas and monitor implementation, and the MoU is for five years with automatic renewal unless either party elects termination.