The Union Cabinet Wednesday approved the signing of an agreement between NITI Aayog and Ministry of Economic Development of the Russian Federation (MEDRF) in the field of social, economic, industrial and regional development programmes, an official statement said.
The objective of the Memorandum of Understanding (MoU) is to explore the potential of cooperation in the framework of preparation and implementation of strategies and programmes of social, economic, industrial and regional development.
It provides a framework and enabling environment to understand each other's strengths, market, technologies, policies, etc, the statement added.
The MoU covers the areas of cooperation including conducting and execution of joint research projects related to issues of mutual interest, visits of relevant specialists of both sides for participation in joint event.
It also include exchange of information and research works related to issues of mutual interest between the two sides, including information on government strategies and development programs.
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