MOUs

Memorandum of Understanding

between

Mewar Chamber of Commerce & Industry (MCCI)

And

Milan Chamber of Commerce, Industry, Agriculture & Handcraft/Promos (MCCIAH)

hereinafter collectively referred to as the “Parties”, each of them a “Party”

Mewar Chamber of Commerce & Industry (hereinafter referred to as the MCCI) was established in India to develop industry, trade & commerce and to ensure that government and society as a whole, understand, both the needs of the industry and its contribution to the nation's well being.

Milan Chamber of Commerce/Promos (hereinafter referred to as the MCCIAH) to improve the local economic environment is operating in the field of internationalization and local marketing with two main goals: a) supporting the competitiveness and development of companies in Lombardy on foreign markets, mainly Small and Medium sized Enterprises (SMEs); b) strengthening the ability of the business system of Milan and Lombardy to attract investments and resources from abroad;

Whereas it has been established that there exists a great mutual interest in trade and economic development of the private and public sectors of the contracting Parties and that it is fostering of such mutual interest that is most desired to the benefit of all Parties concerned;

Whereas the Parties, each with the mutual goals of promoting business, investment, exports and deepening international commercial relations, and each believing firmly in the system of private and public initiative for economic development.

Have agreed to enter into this Memorandum of Understanding (the "MoU") to provide an appropriate framework for future bilateral cooperation

A. The parties shall encourage and facilitate actions leading to the promotion and development of commercial exchange and of economic co-operation between interested companies, observing as well the agreement and understandings existing between their territories.

For this purpose the Parties shall encourage and facilitate the conclusion of contracts and the commercial and economic co-operation agreements between the companies from both countries, authorized to initiate foreign trade and international economic co-operation.

B. In order to implement the objectives in the paragraphs A, the Parties hereupon agree to the following:

1. The parties shall contribute to an analysis of business conditions, trade and sectors of interest for respective exports between India and Milan Region by detecting and publicizing business opportunities in the interest of proposing measures considered appropriate to ensure the optimum development of trade relations between both countries.

2. The parties shall further their mutual knowledge of the legal and economic environment and of trade and investment conditions by exchanging details on their foreign trade legislation, statistics, and, in general, all information conducive to improve analysis and development of their respective markets of third markets in interest to both countries.

3. Action shall be taken to improve economic, trade and business cooperation between companies in their respective countries, as well as the establishment of joint ventures. Action shall be undertaken to promote investment by identifying sectors and projects of possible interest to both Parties and, specifically, various projects in both countries that can be financed by multilateral and aid-to-development institutions or funds.

4. The Parties shall facilitate reciprocal assistance in the organization of trade promotion activities in their respective countries, provided these activities are compatible with priorities of the trade promotion program of each Party. Specifically, they shall cooperate jointly in the organization of trade missions and acquaintance mission for businessmen.

5. The Parties shall favour an exchange of periodical publications and the possibility of publishing, in their respective publications or in any other appropriate publication, information on foreign trade regulations and/or any other trade and business information relative to India and Italy.

6. The Parties shall encourage joint organization of symposiums and seminars on economic and trade information, as well as on trade and investment opportunities concerning both countries. In this respect, if possible, Party where the seminar of symposium is held shall supply all available logistical support, the necessary setting and facilitate contacts between Italy and India in the interest of commercial and industrial cooperation and the development of partnership alliances between the economic operators of both countries.

7. In principle all actions derived from the cooperation activities of this Agreement and implying a financial cost or obligation for the other Party be agreed upon in advance and authorized in writing by the Party concerned. The cost of all action, previously agreed upon by the Parties in writing, shall be defrayed in each of the respective countries by the corresponding Party.

8. The Parties commit themselves to look for possible source for funding in their respective Countries at local, regional, national and international level. In no case the present MoU does not imply financial resources or costs for the Parties not even in the future. In case of necessity of specific expenses may occur, the Parties may find a specific written agreement.

9. The cooperation among the Parties under this MoU shall be subject to their relevant policies and decision-making procedures. In particular, nothing in this MoU is intended to run counter to or modify the terms of each Party’s specific mandates or their statutory rules and provisions.

10. This MoU is not legally binding on the Parties

11. The Parties signing this Agreement shall ensure the necessary confidentiality in exchanging information on trade and business cooperation projects development in each country.

12. This MoU shall enter into force on the date of its signature and it will have a term of one (1) year from this date and such term may be extended only by the written agreement of the Parties.

13. The Parties may withdraw from this MoU at any time by giving one (1) month advance written notice to the other Party. Notwithstanding, the Parties shall take all the necessary actions to ensure that such withdrawal would not be prejudicial to any activity in progress pursuant to this MoU.

In witness whereof, this Agreement is signed by the Parties, in duplicate, on 22nd June, 2015 in Milan

On behalf of                                                                                                    On behalf of

Milan Chamber of Commerce,Industry                                               Mewar Chamber of Commerce & Industry,

Agriculture, Handcraft  Promos  

Ms. Chiara Fanali                                                                                               Mr. Anil Mansinghka 

 Board Member                                                                                                   President of Board