Bilateral Investment Promotion and Protection Agreement with Brunei
India has signed a Bilateral Investment Promotion and Protection Agreement- BIPA with Brunei Darussalam, yesterday.
Signing the agreement, the Finance Minister Chidambaram said that Brunei is the 70th country with whom India has so far signed BIPA. Observing that Brunei is the third largest producer of oil in South East Asia and the fourth largest producer of LNG, PC hoped that the agreement would serve as a catalyst in boosting investment flows between the countries.
The BIPA seeks to protect and promote investments from either country in the territory of the other country with ultimate objective of increasing bilateral investment flow.