Cabinet approves MoU between India and Iceland in the field of Sustainable Fisheries Development

News:Union Cabinet has approved the Memorandum of Understanding(MoU) signed between India and Iceland in the field of Fisheries.

Facts:

Salient features of the MoU:

• Creation of facilities for exchange of scientists and technical experts and their proper placement, especially in areas of estimating Total Allowable Catches in offshore and deep sea areas.
• Provision of training to fisheries professionals from key fisheries institutions.
• Exchange of scientific literature research findings and several other information.
• Processing and marketing of products from high seas fisheries for entrepreneurship development.

About India-Iceland Relations:

• India and Iceland’s friendship is based on the shared values and mutuality of interests.
• A series of high level visits since 2000 have imparted dynamism to the bilateral relations sustained by the opening of resident missions (in New Delhi in February 2006 and in Reykjavik in August 2008).
• Iceland was the first Nordic country to publicly extend support to India’s candidature for permanent membership of the United Nations Security Council(UNSC). 
• Iceland was one of the countries co- sponsoring India’s Resolution at the UN to declare June 21 as the “International Day of Yoga”.
• The Bilateral Trade between the countries have moved from USD 26.51 million in 2013-14 to USD 39.49 million in 2018-19.