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Memorandum of
Understanding
Between
The Ministry of Commerce, Industry and Tourism
of the Republic of Cyprus
AND
The Ministry
of Communications and Information Technology
(Department of Information Technology)
of the Republic of India
On
Cooperation in Information Technology and Services |
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The Ministry of Commerce, Industry and Tourism of Cyprus and the Ministry
of Communications and Information Technology of India (hereinafter
referred to as “the Parties")
HAVING participated in a number of high technology activities in
Information Technology (hereinafter referred to as “IT”);
CONSIDERING that both countries, being participants in the provision of
technology and services in the IT sector, intend to develop their
partnership in the IT sector in a variety of ways;
RECOGNISING the need to promote co-operation in the IT industry between
the parties with a view to leverage capabilities and opportunities on both
sides;
DESIRING to facilitate the growth of investments, joint ventures, joint
initiatives, technology development and markets in the IT sector, and
INTENDING to implement a technology and industry co-operation programme
aimed at fostering business partnerships between both countries;
HAVE REACHED the following understanding:
ARTICLE 1
Basic Principles
The Parties hereby confirm their intention to promote closer co-operation
and the exchange of information pertaining to the IT sector in accordance
with the relevant laws and regulations of each country and this Memorandum
of Understanding and on the basis of equality, reciprocity and mutual
benefit.
ARTICLE
2
Scope of Co-operation
The scope of co-operation between the Parties shall include the following
areas relating to IT:
a)
IT software including telecom software
b)
IT enabled services
c)
E-commerce and Information Security
d)
Electronic Governance
e)
IT and Electronics Hardware
f)
HRD for IT education and IT enabled education
g)
Research and Development
h)
Exploring third country markets
i)
Other areas as mutually agreed upon by the parties.
ARTICLE 3
Implementation
In order to implement the scope of co-operation identified in Article 2,
an India-Cyprus Working Group on Information Technology (hereinafter
referred to as “the Working Group”) shall be set up to identify and
facilitate programmes for the purpose of:
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a) |
Exploring and supporting research and
implementation needs in the fields of innovation incubation, venture
financing and infrastructural development for IT; |
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b) |
Developing skills through exchange programmes, and
through joint sponsorship of conferences, training programmes and
seminars in the field of IT; |
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c) |
Involving, wherever possible, entrepreneurs in each
country to foster incubation of start-ups companies and setting up of
joint ventures in IT hardware and software; |
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d) |
Technology development, product and market
development to be undertaken between the two Parties; |
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e) |
Exchanging technical experts in the field of IT and
software; and |
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f) |
Any other areas of cooperation as may be mutually
agreed upon. |
ARTICLE 4
Working Group
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1) |
For the purpose of identifying and facilitating
programmes under Article 3, the Parties shall designate one or more
representatives as members of the Working Group. The designated
representatives shall be responsible for seeking any required approval
for the conduct of specific co-operative activities from their
respective Governments. |
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2) |
The Working Group shall be responsible for
implementing the scope of co-operation as set out in Article 2 above.
The Working Group may hold consultations to identify and define future
activities under Article 3, review activities in progress or discuss
matters related to such activities. Where necessary, and by mutual
agreement, the Working Group may hold working meetings alternately in
Cyprus and India at a mutually agreed time. |
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3) |
The composition of the Working Group and the issues
to be identified by the Working Group will be agreed upon by the
Parties in each meeting of the Working Group. |
ARTICLE 5
Ways of Co-operation
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1) |
All cooperative activities under Articles 2,3 and 4
of this Memorandum of Understanding will be conducted in accordance
with the applicable laws and regulations of each country. |
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2) |
All cooperative activities under Articles 2,3 and 4
of this Memorandum of Understanding will be subject to the
availability of funds and other resources of the Parties. The cost of
cooperative activities will be shared by the Parties in a manner to be
mutually agreed upon. |
ARTICLE 6
Cooperation between IT Industries
Both sides would encourage agreements for cooperation between the private
sector IT companies and organisations on both sides like the Electronics &
Software Export Promotion Council on the Indian side and the competent IT
organisations on the Cyprus side.
ARTICLE 7
Release of Information
The Parties confirm that neither Party shall disclose nor distribute to
any third country any information transmitted by the other side in the
process of cooperative activities under this MOU, except as and to the
extent authorised in writing to do so by the other Party.
ARTICLE 8
Amendments
This Memorandum of Understanding may be modified or amended as may be
required from time to time by mutual written consent of the Parties.
ARTICLE 9
Disputes Settlement
Any and all disputes between the Parties concerning the interpretation
and/or implementation of this Memorandum of Understanding shall be settled
amicably through consultations and/or negotiations between the Parties
ARTICLE 10
Validity
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1) |
This Memorandum of Understanding will come into
effect on the date of its signature and will remain in force for a
period of five (5) years thereafter, unless terminated by either Party
giving six (6) months prior notice in writing to the other Party. |
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2) |
This Memorandum of Understanding may be extended at
any time within the period it remains in force by mutual written
consent of the Parties. |
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3) |
The termination of this Memorandum of
Understanding will not affect co-operative activities under Articles 2
and 3 which are already in progress. |
IN WITNESS THEREOF, the undersigned, being duly authorised hereof by their
respective Governments/Ministries, have signed this Memorandum of
Understanding at Nicosia on the 8th of October, 2002, in six original
sets, two each, in Greek, Hindi and English languages, all texts being
equally authentic. In case of discrepancy in the interpretations of the
texts, the English text will prevail. |
