Why in News?

• The Union Cabinet, has approved signing of agreement between the National Medicinal Plants Board, Ministry of AYUSH of the Republic of India and the National Institute of Health of the Ministry of Health of the Republic of Peru on Cooperation in the field of Medicinal Plants.

Background:

• India is one of the richest countries in the world in terms of biodiversity and more than 7000 species of plants are estimated to have medicinal usage in folk and documented systems of traditional medicines like Ayurveda, Unani, Siddha & Homoeopathy (AYUSH System of Medicine).The Republic of Peru is one of the Latin American Countries which are the biodiversity hotspots in the world and like India.
• Peru is also having rich biodiversity of medicinal plants and the medicinal plants based traditional medicine practices are prominently practiced by indigenous people.

Significance:

• Both countries having rich medicinal plants biodiversity and medicinal plants based indigenous traditional system of medicines.
• Considering the richness of medicinal plants biodiversity and uses of these resources in Indigenous Traditional Systems of medicines in both countries and to strengthen the bilateral cooperation, the proposed Agreement on cooperation, in the field of medicinal plants is envisaged.
• The proposed Agreement will further enhance bilateral cooperation between the two countries in the area of Medicinal Plants.
• This will be of immense importance to both countries. This Agreement will provide structured framework for cooperation between the two countries on Medicinal Plants.