This MoU aims to pave the way for both countries for exploration of areas for bilateral collaboration. This will be achieved with the following ways:
- Facilitating cross-border cooperation and investments between the maritime sectors of India and Denmark;
- Enabling both the countries to exchange expertise, publications, information, data and statistics to improve mutual capabilities for ensuring quality
- Shipping cooperation in the field of green maritime technology and shipbuilding, granting the Indian Register of Shipping (IRS) the status of
- Recognized Organization (RO), cooperation in the fields of maritime training and education;
- Research and development for cooperation in the field of merchant shipping and maritime transport related matters;
- Cooperation on the opportunities of mutual benefits to both the countries, at both bilateral and international level.
Denmark is considered as one of the important trading partners with India. Danish exports to India include medicinal/ pharmaceutical goods, power generation machinery; industrial machinery, metal ores, organic chemicals, and others. Indian exports to Denmark include apparels, textiles/ fabrics/ yarns, road vehicles and components, metal goods, iron and steel, footwear and travel goods.
The MoU was proposed to promote the bilateral trade between the two countries and to ensure cooperation and coordination in the maritime sector.