The pact is aimed at enhancing cooperation between the two nations for sea trade development.
New Delhi: The Cabinet today gave ex-post facto approval to the agreement signed in April between India and Cyprus on merchant shipping, aimed at enhancing cooperation between the two nations for sea trade development.
"The Union Cabinet chaired by Prime Minister Narendra Modi has given its ex-post facto approval to the agreement between India and Cyprus on merchant shipping, which was signed in April 2017," the Ministry of Shipping said in a statement.
The agreement in merchant shipping will pave the way for cooperation in eliminating any hindrances which may hamper the development of sea trade between the two nations, it said.
The pact 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.