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Union Cabinet approved agreement between India and Jordan on maritime transport

Apr 23, 2015 17:00 IST

The Union Cabinet on 22 April 2015 gave its approval for signing of a shipping agreement between India and Jordan. The agreement aims at strengthening cooperation and providing sustained mutual assistance on merchant shipping and other related maritime matters.

The nod was given in a Cabinet meet chaired by Prime Minister Narendra Modi in New Delhi after recognizing the significant mutual benefit which can be derived from cooperation in area of shipping between the two countries.

Main benefits of India-Jordan shipping pact
• It will help the two nations to encourage and facilitate development of their maritime relationship.
• It will help the two nations to cooperate in the task of enhancing and stimulating steady growth of maritime traffic.
• It will help in exchange and training of staff and students from various maritime establishments, exchange of information necessary for accelerating and facilitating flow of commercial goods at sea and at ports.
• It will help in establishment of joint ventures in maritime transportation, shipbuilding and repairs, maritime training, information technology, including development of simulators, port facilities and related activities.

Other decisions made during the Cabinet meet chaired by Prime Minister includes
• Approved the proposal to introduce the Negotiable Instruments (Amendment) Bill, 2015 in Parliament. The amendments are focused on clarifying jurisdiction related issues for filing cases of offence committed under Section 138 of the Negotiable Instruments Act, 1881. Section 138 deals with the offence pertaining to dishonour of cheque for insufficient funds in the drawer’s account.
• Cleared a proposal to permit Reserve Bank of India to enter into Currency Swap Agreement with the central bank of Sri Lanka for extending 1.1 billion dollar as a special or ad-hoc swap outside the Framework on Currency Swap Arrangement for SAARC Member Countries.
• Approved introduction of the Commercial Division and Commercial Appellate Division of High Courts and Commercial Courts Bill, 2015 in the current session of Parliament.

 

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