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July 11, 2016

India and Kenya signed 7 Agreements

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Following delegation level talks, the Prime Minister of India Narendra Modi and President of Kenya, Uhuru Kenyatta today signed 7 Agreements and MOUs, including in the field of defense cooperation, to strengthen institutional cooperation between respective defence establishments.  

The Signed Agreements are,
  1. A bilateral agreement on exemption of visa for holders of diplomatic passports.
  2. A memorandum of understanding (MoU) in the area of defence cooperation.
  3. A MOU on cooperation in the field of national housing policy development and management.
  4. A MOU on cooperation in the field of standardisation, expertise sharing and mutual trade between Bureau of Indian Standards and Bureau of Kenya Standards.
  5. A revised Double Taxation Avoidance Agreement.
  6. 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.
  7. An agreement 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.

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