India, UK ink two MoUs
India and the United Kingdom have signed two memorandum of understanding (MoUs) to boost relations between the two nations.
These MoUs were signed during the official three days state visit of UK Prime Minister Theresa May to India. It was her first bilateral visit outside Europe after becoming PM and after UK’s decision to exit from European Union.
Signed MoUs are
MoU on Ease of Doing Business
- Under it, expertise from UK Government will be made available to relevant departments and agencies of the Indian Government for the ease of doing business drive.
- It includes sharing of best practices and technical assistance, exchange between the officials to India for effective implementation of the initiatives in order improve its ranking in the ease of doing business.
- Important areas of cooperation include tax administration, regulatory regimes, support to businesses and startups, competition economics, etc.
MoU for cooperation in the field of intellectual property
It was signed between the Department of Industrial Policy and Promotion (DIPP) and the Intellectual Property Office (IPO) of UK.
- It envisages establishing a mechanism for furthering cooperation between the IP Offices of India and UK in the field of IP and related information technology (IT) services.
- It includes exchange of experience, best practices and knowledge of IP awareness among the public, businesses, industry, R&D organizations and educational institutions.
- It also includes exchange of processes for disposal of applications for trademarks, patents, industrial designs and geographical indications.
Both countries also agreed to establish new Joint Working Group (JWG) to discuss and resolve trade related issues. It will focus on goods trade and also on services, including through greater mobility for skilled professionals.
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Month: Current Affairs - November, 2016