India & Kazakhstan Agree to Expedite Satpayev Block

Source: www.gulfoilandgas.com 12/6/2010, Location: Asia

The 8th meeting of the India-Kazakhstan Inter-Governmental Commission (IGC) on Trade, Economic, Scientific, Technological, Industrial and Cultural cooperation was held in New Delhi.

Mr. Murli Deora, Minister of Petroleum and Natural Gas, led the delegation from India. The Kazakh side at the IGC meeting was led by Mr. Sauat Mynbayev, Minister of Oil and Gas, Republic of Kazakhstan.

The two sides reviewed progress with regard to various decisions taken at the 7th Inter-Governmental Commission meeting held in Astana on 12-13 March, 2009.

In pursuance of the State Visit of Mr. Nursultan Nazarbayev to India in January 2009 and the signing of the Declaration on Strategic Partnership between the Republic of India and Republic of Kazakhstan, both sides agreed to further strengthen the bilateral cooperation between the two countries.

The deliberations of the Inter-Governmental Commission were marked by cordiality and warmth, which are characteristic of the traditionally close and friendly ties prevailing between the two countries.

Both the sides agreed that the current level of bilateral trade is not commensurate with the potential existing between the two countries and called for conscious efforts to increase Indo-Kazakh trade through the Joint Working Group on Trade and Economic Cooperation and the India Kazakh Joint Business Council.

Both agreed to expedite the signing of the package of documents on Satpayev Block on the transfer of 25% share from KazMunaiGaz JSC to ONGC Videsh Limited (OVL) of India.

Both sides agreed to hold the first meeting of the Joint Working Group on Trade and Economic Cooperation in January 2011.

To expand military and technical cooperation and develop a strategic partnership between the two countries, both sides agreed to hold the second meeting of Joint Working Group at the earliest.

Both sides noted the need for early convening of a meeting of the Joint Science and Technology Committee, so that Program of Cooperation for the Period 2009-11 in fields of Nano technology, Bio technology and Chemical Catalysis which was signed in September 2009 could be implemented.

The Parties expressed readiness for initialing the text of a draft Agreement between the Ministry of Agriculture of the Republic of Kazakhstan and Ministry of Agriculture of the Republic of India, on cooperation in the area of agriculture and allied sectors.

Both sides expressed readiness for signing of a Memorandum on Cooperation in the area of Cyber Security between the Department of Information Technology of Government of India and Ministry of Communication and Information of the Republic of Kazakhstan.

Both sides expressed satisfaction on finalizing the Agreement in the area of Mutual Legal Assistance. The two sides agreed to expedite initialing the draft of the Treaty on Mutual Legal Assistance between India and Kazakhstan at an early date.

Both sides noted the progress made towards finalizing an Agreement on Cooperation in the field of Education, and agreed to finalise the Agreement at an early date.

Both sides noted the progress made towards finalizing an Agreement for Cooperation in the field of Health and Medicine, and agreed to finalise the Agreement at an early date.

Both sides agreed that the 9th meeting of the IGC will be held in Astana, Kazakhstan. The exact dates and agenda of the meeting will be worked out through diplomatic channels.


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