ID :
137593
Sat, 08/14/2010 - 15:45
Auther :
Shortlink :
http://m.oananews.org//node/137593
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India-Iran keen to sign BIPA
New Delhi, Aug 14, IRNA - India and Iran have expressed desire to sign the Bilateral Investment Promotion and Protection agreement (BIPA) post completion of legal formalities.
As regards investments in Iranian refineries and power plants, some Indian corporates have been taken steps in this regard.
“During a meeting between the Indian Finance Minister and Seyed Shamsodin Hosseini, Iran's Minister of Economic Affairs and Finance, the issue of BIPA between both sides was discussed on July 8, 2010.
The draft text of the Agreement has been finalised. However, BIPA with Iran has not yet been signed”, said India’s Minister of State for Finance, S S Palanimanickam Friday in a written reply in Lok Sabha (Lower House of Indian Parliament).
The objective of BIPA is to promote and protect the interests of investors of either country in the territory of the other country, said an official release issued here. Such Agreements increase the comfort level and boost the confidence of the investors by assuring a minimum standard of treatment and non-discrimination in all matters while providing for justiciability of disputes with the host country.
It is perceived that such Agreements serve as a major catalyst for investment flows from India to these countries and vice versa./end
As regards investments in Iranian refineries and power plants, some Indian corporates have been taken steps in this regard.
“During a meeting between the Indian Finance Minister and Seyed Shamsodin Hosseini, Iran's Minister of Economic Affairs and Finance, the issue of BIPA between both sides was discussed on July 8, 2010.
The draft text of the Agreement has been finalised. However, BIPA with Iran has not yet been signed”, said India’s Minister of State for Finance, S S Palanimanickam Friday in a written reply in Lok Sabha (Lower House of Indian Parliament).
The objective of BIPA is to promote and protect the interests of investors of either country in the territory of the other country, said an official release issued here. Such Agreements increase the comfort level and boost the confidence of the investors by assuring a minimum standard of treatment and non-discrimination in all matters while providing for justiciability of disputes with the host country.
It is perceived that such Agreements serve as a major catalyst for investment flows from India to these countries and vice versa./end
