GS 2: IR | Bilateral Relations

Why in News?

The Union Cabinet chaired by Prime Minister has approved the Memorandum of Understanding (MoU) between India and Norway on India-Norway Ocean Dialogue.

Highlights:

• It promotes cooperation in the areas of mutual interest pertaining to the development of blue economy. Norway is a global leader in the area of Blue Economy and has cutting- edge technologies and expertise in areas such as fisheries, hydrocarbons, renewable energy, sustainable harnessing of ocean resources and maritime transport. The MoU contribute to create opportunities for collaboration in areas such as exploitation of hydrocarbons and other marine resources, as well as management of ports and tourism development for the mutual benefit of all stakeholders within the framework of the Joint Task Force (JTF).
• It contributes to the objective of Food Security through infusion of new technologies in fisheries and aquaculture. Further, offer a platform for businesses in both countries to execute profitable ventures.
• Scientists and researchers collaborate on studying ocean ecosystem also in the context of the Arctic region.