Cabinet approves trade MoU with Geneva-based centre | Daily Current Affairs 2021

Cabinet approves trade MoU with Geneva-based centre

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MOU On International Trade & Investment Law

MOU On International Trade & Investment Law: The Union Cabinet, chaired by Prime Minister Shri Narendra Modi on 18th August 2021 approved the signing of a Memorandum of Understanding (MoU) between the Permanent Mission of India (PMI) to the WTO, Centre for Trade and Investment Law (CTIL) of the Indian Institute of Foreign Trade, and Centre for Trade and Economic Integration (CTEI) and Geneva-based Centre for Trade and Economic Integration.

Key Details:

  • The move will provide valuable academic and research opportunities to the employees of CTIL and the Department of Commerce in the field of international trade and investment law.
  • In addition, capacity-building programmes or activities will be carried out under the MoU to enhance the understanding of the DOC officials, CTIL researchers and academics on contemporary issues of international trade and build support for India’s positions in international trade and investment law.
  • The collaboration between academicians, jurists, policymakers, practitioners, and students from India, Switzerland and other countries would help create a technical and nuanced understanding of emerging and new areas of international trade and investment law and related disciplines.
  • The proposed collaborations under the MoU with CTEI are academic in nature.
  • Hence, the researchers and academicians from India, including employees from CTIL, and Department of Commerce and other government agencies would benefit from capacity-building and research-oriented activities.
  • This would be beneficial to formulating India’s positions on various issues on international trade negotiations and dispute settlement
  • The MoU will remain in force for three years.

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