Financial Daily from THE HINDU group of publications
Sunday, Mar 06, 2005
Financial Daily from THE HINDU group of publications Sunday, Mar 06, 2005 |
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Industry & Economy
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Foreign Trade MoU signed with Venezuela for ties in hydrocarbon sector Our Bureau
New Delhi , March 5 INDIA and Venezuela have entered into six agreements and memorandum of understandings in various sectors including hydrocarbon, biotechnology and space science and technology. An agreement for cooperation in the hydrocarbon sector was signed during the ongoing visit of the Venezuelan President, Mr Hugo Chavez Frias, to the country. Further, MoUs were signed for establishment of joint commission, cooperation in biotechnology and cooperation in space science and technology. The MoUs were also signed between ONGC Videsh Ltd and Venezuelan State Petroleum Company, and IRCON and IAFE, the Venezuelan Railway. The Indian side has agreed to share its development experience and appropriate technology with Venezuela in various fields including healthcare, low-cost housing, agriculture, information technology and poverty alleviation, a joint statement issued on Saturday said. It was agreed that the first meeting of the joint commission would be held as early as possible to identify the areas of cooperation in various sectors. Our Bangalore Bureau reports: The science and technology MoU provides an umbrella for cooperation between the two countries in the study of satellites, remote sensing of the earth and space applications in telemedicine and tele-education, the Indian Space Research Organisation said in a release on Saturday. ISRO and the Institute of Engineering Foundation will be the nodal agencies to implement the pact. Mr G. Madhavan Nair, Secretary, Department of Space and ISRO Chairman, and Ms Marlene Yadira Córdova, Venezuelan Minister for Science and Technology, signed the MoU in the presence of the Prime Minister, Dr Manmohan Singh, and Mr Chavez.
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