Cabinet has approved a Memorandum of Understanding (MOU) on agricultural cooperation between the Ministry of Agriculture and the People’s Republic of Bangladesh.
The MOU will be the basis of stronger economic and development cooperation in areas of mutual interest in the agriculture sector between the two countries.
Cabinet based its decision on a submission by the Minister for Agriculture, Mr Inia Seruiratu.
The Minister said that the aim of the MOU is to promote agricultural technical progress and economic advancement including living standards of the people in both countries.
He said that the MOU would enable the Government through the Ministry of Agriculture to increase production, improve yields, produce better varieties of crops, reduce imports and ensure food security.
The MOU will be valid for a period of five years and shall be extended automatically for a subsequent period of 2 years thereafter.
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