The Union Cabinet
chaired by the Prime Minister Shri Narendra Modi has approved signing of
Framework of Understanding (FoU) on Cooperation in the Hydrocarbon
Sector with Bangladesh.
The objective of the proposed FoU is to establish a cooperative
institutional framework mechanism to facilitate and enhance
India-Bangladesh bilateral cooperation in the hydrocarbon sector on the
basis of equality and mutual benefit.
The FoU promotes bilateral cooperation at the sub-regional and regional
levels. It will provide impetus to development and enable the two
countries to realize their developmental aspirations, shared destiny and
common vision of a peaceful and prosperous South Asia.
The proposed FoU is non-binding in nature and will be valid for five