India, Morocco sign MoU to promote cooperation in mineral exploration

Apr 12, 2018 10:12 IST
India, Morocco sign MoU to promote cooperation in mineral exploration

India and Morocco on April 11, 2018 signed a Memorandum of Understanding (MoU) to promote cooperation in the field of mining and geology for a period of 5 years.

The agreement was signed in New Delhi after bilateral discussions between Union Mines Minister Narendra Singh Tomar and Aziz Rabbah, Minister of Energy, Mines and Sustainable Development of Kingdom of Morocco.

Key Objective

The main focus of the MoU would be on the development of geological infrastructure for Geoscience Maps and geochemical maps and strengthening geological research.

The focus would also be laid on the evaluation of potential mineral resources and promoting exploration and mining through the participation of both public and private sector.

 



Key Highlights

• Under the MoU, India’s pioneer exploratory agency- Geological Survey of India would be willing to assist Morocco in geological mapping and mineral exploration.

• Union Mines Minister Tomar said that a specialized Training Institute of GSI could train the professionals of Morocco.

• Moroccan Minister Aziz Rabbah expressed that India could make huge investments in Morocco in the field of automobile, textile, aerospace, agro and electronic industries.

• The Moroccan Minister also welcomed the idea of a joint venture and B2B between Morocco and India for minerals. He said it would help improve the economy of Morocco and neighbouring markets.

• A road map to increase the GDP of mining sector by about 30 per cent has also been drawn.

The first meeting under the agreement may be held between India and Morocco within the next six months.

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Quick Digest

Who: India , Morocco

What: Sign MoU

Why: To promote mineral exploration

Is this article important for exams ? Yes

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