Economy

Cabinet gives ex post-facto nod to India-Cyprus pact on merchant shipping

Our Bureau New Delhi | Updated on January 12, 2018 Published on June 07, 2017

The Union Cabinet on Wednesday gave ex-post facto approval to the agreement between India and Cyprus on merchant shipping, which was signed in April 2017.

The agreement will pave way for cooperation in eliminating any hindrances which may hamper the development of sea trade between the two nations, an official release said.

The MoU will encourage participation in the transport of goods between the countries, and also from third countries. The MoU further seeks to enhance cooperation for employment, improvement of conditions of work and for the welfare of seafarers employed on each other’s vessels.

MoU between SEBI, European Securities and Markets Authority

The Cabinet cleared the way for the Securities and Exchange Board of India (SEBI) entering into a memorandum of understanding (MoU) with the European Securities and Markets Authority (ESMA) for mutual cooperation.

The MoU is likely to establish cooperation arrangement as a precondition for ESMA to recognise Central Counter Parties (CCPs) established in India and supervised by the SEBI to provide clearing services to clearing members or trading venues established in the European Union and to provide ESMA with adequate tools to monitor the ongoing compliance by the covered CCPs with the recognition conditions, an official release said.

MoU between BIS and Mali for standardisation

The Cabinet also gave ex-post facto approval to the memorandum of understanding (MoU) between the Bureau of Indian Standards (BIS) and Direction Nationale De Industries (MLINDI), Republic of Mali, on standardisation and conformity assessment.

The MoU aims to facilitate closer cooperation and provide a mechanism by which India and Mali can work together towards the common aim of strengthening standardisation and conformity assessment activities to facilitate sharing of expertise and mutual trade, an official release said.

Published on June 07, 2017
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