- the objective of this MoU is to expand the business and cooperation in the development of Small and Medium Enterprises in handloom, powerloom and textiles.  The MoU has been jointly prepared by both parties and will remain in force for five years from the date of signing and could be renewed every five years.  The proposal made by Hon. Rishad Bathiudeen, Minister of Industry and Commerce, to sign the above MoU and to proceed with the relevant activities, was approved by the Cabinet.