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 24 May 200

BRUNEI-INDIA/TIES
Investment protection pact signed

Brunei and India on Thursday signed a bilateral investment promotion and protection agreement (BIPA) in New Delhi, making the Sultanate the 70th country with whom India has so far signed the BIPA.  

The BIPA seeks to protect and promote investments from either country in the territory of the other country with the objective of increasing bilateral investment flow.

The agreement also stipulates Most Favoured Nation (MFN) treatment and national treatment, besides providing elaborate dispute resolution mechanism, according to an official press release.

Indian Finance Minister P Chidambaram, after signing the agreement with his Brunei counterpart Pehin Dato Rahman Ibrahim, said he hoped that the agreement would serve as a catalyst in boosting investment flows between the two countries.

Brunei is the third largest producer of oil in South-East Asia and the fourth largest producer of liquefied natural gas (LNG).





 

 

 

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