Union Cabinet has approved signing of a Memorandum of Understanding between India and Italy for cooperation in Agriculture and Phytosanitary issues. <br/><br/>It was approved at a cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi. <br/><br/>The MoU provides for cooperation in the fields of Phytosanitary issues, agricultural production and a wide range of other sectors including animal husbandry, agricultural research and food processing. <br/><br/>It also provides for setting up of a Joint Working Group to promote bilateral exchanges in the field of agriculture, consider long-term initiatives for agricultural cooperation. <br/><br/>It will encourage and facilitate contacts between governmental agencies, scientific and academic institutions and business communities of both countries and promote further cooperation between the respective research institutes of the two countries.<br/><br/>The Cabinet has also given its approval for signing and ratification of the Investment Cooperation and Facilitation Treaty (ICFT) between India and Brazil. <br/><br/>The Treaty will result in increase of investment flows between the two countries. It will also provide appropriate facilitation to Brazilian investors in India and Indian investors in the Brazil.<br/><br/>The Union Cabinet has given its approval for transfer of all land assets owned by Hindustan Vegetable Oils Corporation Ltd to Ministry of Housing and Urban Affairs or its authorized agency for appropriate utilization and disposal. The land located in seven cities are lying unutilized for many years. <br/><br/>The transfer of the properties will enable use of the land for public purpose.