The MoU will facilitate sharing and exchange of knowledge and technical expertise in the areas of infrastructure development, operation and maintenance of roads, Intelligent Transport System.
The MoU was signed by India's Union Minister for Road Transport and Highways, C P Joshi and Canadian Minister of Transport, Infrastructure and Communication Denis Label, during the 15th Annual Conference and General Meeting of ITS Canada, held in Quebec City, yesterday.
The agreement aims to facilitate partnerships between key private and public sector stakeholders and raise awareness of infrastructure investment opportunities in Canada and India.
India's exports to Canada in 2011 were up by 25 per cent and imports from Canada registered an increase of 31.7 per cent over 2010, Joshi said.
Total bilateral trade during 2011 registered 28.35 per cent increase over the previous year. Bilateral trade during the calendar year 2011 crossed 5 billion US Dollar mark, the minister said.
"The MOU between Canada and India recognizes our common goals of promoting safe, efficient, cost-effective and integrated road transportation systems," Canadian Minister Lebel said and added: "It represents an important step towards deeper bilateral relations and demonstrates our government's continued commitment to build stronger ties with an important trading partner and key international market."
"I am pleased that this MOU will serve to identify new opportunities in a growing market for Canadian companies in the transportation sector - part of our government's plan to create jobs, growth and long-term prosperity for Canadians," Lebel said.
Before the signing of the MOU, the two Ministers met for an in-depth exchange of views on bilateral relations during which the two sides underlined the commitment of their leaders to take the relationship to new heights.
India has shifted focus towards the
Private-Public-Partnership Mode for undertaking development and up-gradation of national highways network across the country as also development of express-ways which are going to be access-controlled with all modern construction technology, Information Technology, including Electronic Toll Collection System.
