India, Kenya sign seven agreements

India, Kenya sign seven agreements

Nairobi, July 11 (IANS) 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.

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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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