New Delhi, June 8 (KNN) The Union Cabinet under the chairmanship of Prime Minister Narendra Modi recently approved the India Cyprus agreement on Merchant Shipping.

The Agreement was signed earlier in April this year between the two countries and was waiting the final formal approval by the government.

The prime intention of the agreement is to explore way for better cooperation. It further intends to eliminate the hurdles and challenges that the traders face in operating via sea route between the two countries.

Also the MoU is being seen as an instrumental step towards encouraging transportation of goods not just between India and Cyprus but also other countries that fall geographically through the sea route between the two countries.

The agreement is expected to facilitate cooperation for employment in the maritime industry as the traffic in the route will require more man power.

Also emphasis is being laid on improvement of conditions of work and for the welfare of seafarers employed on each other’s vessels. (KNN/ DA)