The union cabinet chaired by the Prime Minister, Mr Narendra Modi, last week gave its approval for the memorandum of understanding (MoU) for co-operation in the field of traditional systems of medicine and homoeopathy between India-Bangladesh.

The signing of the proposed MoU will enhance bilateral cooperation between the two countries in the areas of traditional medicine and homoeopathy. This will be of immense importance to both countries considering their shared cultural heritage.

The MoU shall also provide a structured frame-work for cooperation between the two countries for the promotion of Indian traditional systems of medicine and homeopathy in Bangladesh.

There are no additional financial implications involved. However, financial resources necessary to conduct research, training courses, conferences or meetings will be met from the existing allocated budget and existing plan schemes of the Department of AYUSH.

The total exports of Ayush products from India in 2012-13 was Rs 2167.57 crore. India's exports of herbal and Ayush products to Bangladesh for 2013-14 was Rs 31.85 crore.