The union cabinet chaired by Prime Minister Narendra Modi gave its approval for signing an inter-governmental agreement between India and Mauritius on cooperation in cooperatives and related fields. The agreement promotes cooperation through short and medium term programmes. It will be will be for five years after which it will be automatically extended for another five years. A work plan will be drawn up between the two parties to give effect to the objectives of the agreement.

The Cabinet also gave its nod to the signing of a Memorandum of Understanding (MoU) between the Securities and Exchange Board of India (SEBI) and the Financial Services Regulatory Authority (FSRA), Abu Dhabi for mutual co-operation and technical assistance. The MoU would promote and help create conditions for development of securities markets in the two countries. It would also contribute towards strengthening the information sharing framework between the two regulators.

The Union Cabinet was apprised of a General Framework Agreement, GFA on Renewable Energy Cooperation between India and United Arab Emirates, UAE. The GFA was signed in New Delhi on February 11 this year during the state visit of Crown Prince of UAE.

The objective of this GFA was to establish the basis for a framework through which extensive projects, investments, cooperation in research and development in renewable and clean energy, and knowledge sharing platforms could be enacted on the basis of mutual benefit, equality and reciprocity between the parties.