The Union Cabinet of India has given its ex post facto approval to a Memorandum of Understanding (MoU) between India's Director General of Trade Remedies and Bangladesh Trade and Tariff Commission to increase cooperation on trade remedial measures .
The approval came at a cabinet meeting held on Tuesday with Indian Prime Minister Narendra Modi in the Chair, said an official statement.
The MoU was signed on 27 March in Dhaka during the Bangladesh trip of the Indian premier.
The primary objective of the MoU is to promote cooperation between the two countries in the area of trade remedies, covering the broad activities related to exchange of information, undertaking capacity building activities and activities in accordance with various provisions of World Trade Organization on anti-dumping, countervailing and safeguard measures in bilateral trade between India and Bangladesh.
The MoU seeks to foster better cooperation between the relevant authorities of both the countries so as to discourage unfair trade practices and promote rule based bilateral trading between the two countries.