New Delhi, Feb 5 : India and Monaco can further augment their ties by focusing on areas such as environment and climate change and renewable energy where they have a "strong meeting of minds", President Ram Nath Kovind said on Tuesday.
Welcoming Monaco's ruler, Prince Albert II, who is on a week-long visit to India, he said that the two countries have always enjoyed a relationship of trust, friendship and mutually beneficial cooperation.
"India-Monaco ties are doing well. However, there is scope to do a lot more together. On issues such as renewable energy, climate change and the environment, there is a strong meeting of minds between us.
We must prioritise these areas for bilateral cooperation," the President said.
"India is the fastest growing major economy in the world, and Monaco's technology and investment companies can significantly benefit from the Indian growth story."
President Kovind and Prince Albert also discussed various issues like trade and energy.
On Monday, Prince Albert had attended the India-Monaco Business Forum.
On the same day, The Prince Albert II of Monaco Foundation - founded by the Prince himself with an aim to protect the environment - had also signed a memorandum of understanding (MoU) with The Energy and Resources Institute (TERI) to support work in areas of priority which include energy, environment, climate, resource efficiency and sustainable agriculture.
According to a statement released by TERI, both organisations will work towards information exchange on the strategies and programmes implemented in their countries, including sectoral policies, and priority actions to promote in those countries and the conditions for their implementation.
"They will also aim to implement joint projects in these areas.
A committee will also be set up under the agreement in order to facilitate the exchange of technical and scientific knowledge to benefit the common areas of work," it said.
The Prince will proceed on a private tour of India after his official engagements and leave for home on February 10.