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TNPSC Current Affairs January 2017 5

TNPSC Current Affairs January 2017 5


1. Union Cabinet gave nod for customs agreement with Uruguay.

The Union Cabinet chaired by Prime Minister Narendra Modi has given a nod on agreement between India and Uruguay regarding cooperation and mutual assistance in Customs issues

This agreement will help both countries to share information to prevent and investigate custom offences. It also expected to facilitate trade and efficient clearance of goods traded.
The Agreement looks into Indian customs concerns and requirement, particularly on the correctness of the customs value declared, authenticity of certificates of origin of goods and description of the goods traded.

History:

India is an important trading partner of Uruguay which is the member of MERCOSUR. India Is already signed a Preferential Trade agreement(PTA) with MERCOSUR which came effect from 1st June 2009.
MERCOSUR is a trading bloc in Latin America comprising Uruguay, Brazil, Argentina, and Paraguay which is formed in 1991 with the objective of free movement of goods, services , capital and people among member countries.

About Preferential Trade Agreement:

Preferential Trade Agreement means a trade pact between countries to reduce tariffs for certain Goods to the countries which sign the agreement. It means the tariffs amount is charged lesser than the amount charged from countries who are not included in the agreement.


2.India and Kenya signed MOU on bilateral cooperation in field of Agriculture and allied Sectors.


Union Cabinet chaired by Prime Minister Narendar Modi has approved the Memorandum of Understanding between India and Kenya on bilateral cooperation in field of Agriculture and Allied Sectors.

Indian prime minister Narendra modi and his Kenyan Counterpart Uhuru Kenyatt signed the MOU which covers various fields which include Agriculture research, animal husbandry and dairy, livestock and fisheries, natural resource management, water management, irrigation, irrigation farming systems development and integrated watershed development , integrated pest management, sanitary and phytosanitary issues and many more- (Official Statement)


The MoU will remain valid for 5 years and will automatically renewed subsequent years unless either country notifies the other in writing before 6 months of expiry to terminate it.


3.India and Portugal sign 6 agreements.

Union Cabinet, chaired by the Prime minister Narendra Modi has given approval for agreement between India and Portugal for cooperation in the field of Agriculture and allied sectors.

Prime minister Narendra Modi and his counterpart Antonio Costa has signed the MoU for cooperation in the areas of exchange of scientific and technical information, trade in plants and plant products, exchange of information in phytosanitary issues, training programmes, seminars and visits of experts and consultants

The MoU will remain valid for 5 years and will automatically renewed subsequent years unless either country notifies the other in writing before 6 months of expiry to terminate it.


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