Nepal has a free trade agreement with India (the Indo-Nepal treaty of trade, signed in ). Nepal is a member of the South Asian Free Trade. Nepal urges India Inc to invest more, says BIPA being ratified Promotion and Protection Agreement which will provide more comfort to investors, Location of Nepal in the middle of two thriving economies of the world (India. देश. सम्झौताको शिर्षक, सम्झौता भएको मिति. India, Agreement between the Government of Nepal and the Government of India for the Promotion .
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After BIPPA: What Matters Is Business Environment | New Spotlight Magazine
Heralding a new era in bilateral economic ties, India and Nepal inked three key pacts on Friday. On the busy second day of his visit to India, Nepalese PM Baburam Bhattarai held wide-ranging talks with PM Manmohan Singh, in which the issue of the ongoing peace process and proposed formula integration of Maoist combatants into the Nepal army figured prominently.
At the end of the nearly two-hour talks, where security cooperation also figured, the two countries signed the three agreements. Among betweem deals, the most prominent is the LoC that will be used to finance infrastructure and hydropower projects in Nepal.
It will carry a concessional rate of interest of 1. The agreement seeks to promote and protect investments from either country in the other’s country, with the ultimate objective of increasing bilateral investment flow. The term investment includes every kind of asset, including intellectual property rights.
Provisions have been made in the BIPPA for grant of compensation to the investors who suffer losses because of war, armed conflict, a state of national emergency, etc. The agreement provides for an elaborate mechanism to resolve disputes between the investor and a host government, as well as between the two governments.
Nepal: Nepal urges India Inc to invest more, says BIPA being ratified – Times of India
The provisions are seen as critical in protecting the interests of Indian investors and official sources in Delhi hoped that BIPPA would be implemented fully and not remain a mere document.
It has been learnt that India discussed with Bhattarai the status of two hydel power projects being built by India’s private power firm GMR.
India has been seeking assurance from the Nepalese government for the safety of the GMR’s workers and staff on the Upper Karnali and Upper Marshyangdi hydel power projects.
However, in Kathmandu, former deputy PM K.
Sharma Oli created a row by saying that Bhattarai kept the Nepalese political parties in the dark over the agreement. He also visited Rajghat. October 22, Get real-time alerts and all the news on your phone with the all-new India Today app.
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