The union cabinet today approved the signing of memorandum of understanding with South Africa and Zambia for a period of five years each.

The memorandum of understanding with South Africa is aimed at promoting bilateral cooperation in agriculture through joint activities and exchanges in the areas of agriculture, animal husbandry, fisheries, poultry, agricultural extension, land and water management and conservation; promotion of agricultural trade and investment, agricultural biodiversity management and conservation etc. through exchange of scientific delegations and experts between the two countries.

The agreement between India and Zambia is for the avoidance of double taxation and the prevention of fiscal evasion on income taxes.

The agreement with Zambia is expected to stimulate the flow of investment, technology and services from India to Zambia and vice versa. It will provide tax stability to the residents of India and Zambia and facilitate mutual economic cooperation.