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India-Portugal Joint Declaration on Cooperation in Third Countries

January 07, 2017

Desirous of deepening the partnership between the two countries;
In pursuance of the commitment of both countries to strengthen bilateral cooperation vis-à-vis third countries;
Issue this Joint Declaration in their pursuit of strengthening bilateral economic and commercial cooperation in third countries. They intend to work together to identify and mutually support projects and economic activities closely coordinated with third country participants.

Both countries will encourage their private sector to undertake joint economic, commercial and industrial projects and investments in third countries to boost growth, jobs and development.

Such projects should contribute to the local economy, regional connectivity and integration, in order to benefit third countries, by taking into account their priorities in terms of development and the needs of their people.

Cooperation will be complementary and mutually beneficial and strive to promote best practices in development of projects.

The two countries will identify sectors and develop projects in close consultation with the third country, where required. Cooperation may take any form, its modalities including, but not limited to, partnerships, joint investment, joint financing, not necessarily in matching proportions.

Both countries will encourage academicians, think-tanks, companies and other private sector players to share research, experiences and information concerning co-operation vis-à-vis third countries.

The scope of cooperation under this Joint Declaration can be modified in future with mutual consultation and agreement.

New Delhi,
07 January 2017

 

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