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India, Kenya sign seven agreements

India, Kenya sign seven agreements
July 12
11:07 2016
Prime Minister, Narendra Modi and the President of Kenya, Uhuru Kenyatta witnesses signing of agreements, in Nairobi.

Prime Minister, Narendra Modi and the President of Kenya, Uhuru Kenyatta witnesses signing of agreements, in Nairobi.

Nairobi, July 12  India and Kenya on Monday signed seven agreements following delegation-level talks headed by Prime Minister Narendra Modi and Kenyan President Uhuru Kenyatta.

The two sides signed a memorandum of understanding (MoU) in the area of defence cooperation.

Another MoU calls for cooperation in the field of standardisation, expertise sharing and mutual trade between Bureau of Indian Standards and Bureau of Kenya Standards.

A third MoU was signed for cooperation in the field of national housing policy development and management.

According to another agreement, India will extend a line of credit of $15 million (first tranche of $30 million) to IDB Capital, Kenya, for development of various small and medium enterprises [SMEs] in the east African country.

An agreement was also signed for extension of a line of credit of $29.95 million by India to the Kenyan government for upgrade of Rift Valley Textiles Factory (RIVATEX East Africa Limited), Kenya.

Both sides signed a revised Double Taxation Avoidance Agreement.

A bilateral agreement on exemption of visa for holders of diplomatic passports.

Prime Minister Modi arrived in Kenya on Sunday from Tanzania on the fourth and final leg of his four-nation Africa tour.

He will leave for India on Monday evening after the completion of his engagements in Kenya.

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