List of MoUs Signed by India in October 2017: Week II

List of MoUs Signed by India in October 2017: Week II
Name of the MOU/treaty
Between
MoC on technical intern training
program

India and Japan
MoC on establishing a liquid,
Flexible and global LNG market

Indian and Japan
MoU between SEBI and FSC for
Mutual cooperation and technical
assistance

SEBI & FSC
MOU for cooperation in the field of
Vocational education and training
India and Belarus
MoU for cooperation in the field of
Water resources
India & Morocco
MoU’s of October 2nd week-2017
Note:
➡MoC- Memorandum of cooperation
➡MOU- Memorandum of understanding

1. The Union Cabinet has approved the signing of "Memorandum of Cooperation (MoC)" on the "Technical Intern Training Program (TITP)" between India and Japan.
Under Technical Intern Training Program (TITP) program India sends its technical interns to Japan for a period of 3 to 5 years on the job training
The MoC will pave the way for bilateral cooperation between the Indian and Japan in the area of skill development.
2. The Union Cabinet has given its approval for Memorandum of Cooperation (MoC) on establishing a liquid, flexible and global LNG Market between India and Japan.
The MoC provides a framework to cooperate in
  • Facilitating flexibility in LNG contracts
  • abolition of Destination Restriction Clause
  • Explore possibilities of cooperation in establishing reliable LNG spot price indices reflecting true LNG demand and supply.
3. The Union Cabinet has approved Memorandum of Understanding (MoU) for mutual co-operation and technical assistance between Securities and Exchange Board of India (SEBI) and Financial Services Commission (FSC), Gibraltar.
Importance of MoU:
  • The MoU aims at creating conditions for an effective development of securities markets in both countries.
  • The MoU also promotes further development of economic links and cooperation between the two regulators (SEBI & FSC)
  • It would also contribute towards strengthening the information sharing framework between the two signatories.
4. The Union Cabinet has approved Memorandum of Understanding for cooperation in the field of Vocational Education and Training (VET) between India and Belarus.
For the first time an MoU for cooperation in area of vocational education, training and skill development has been signed with Eurasian country.
5. An MoU was signed between IIT-Kharagpur and Samsung India for setting up of a digital academy on the institute.
6. The Union Cabinet has given its approval for signing of a Memorandum of Understanding (MoU) for cooperation in the field of water resources between India and Morocco.
7. The Union Cabinet has approved changing status of IALA (International Association of Marine Aids to Navigation and Lighthouse Authorities) from NGO to IGO that is from Non-Governmental Organization (NGO) to Inter-Governmental Organization (IGO).

Other Information:

1. In the LNG sector, Japan is the world's largest importer and India is the 4th largest importer.
2. IALA was established in 1957
3. Present chairman of SEBI- Ajay Tyagi

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