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Trade pact signed with Bosnia
Our Bureau
New Delhi
,
Sept. 13
,
India and Bosnia and Herzegovina on Tuesday signed a bilateral investment promotion and protection agreement (BIPPA) to promote and protect investments from either country in the territory of the other country.
The BIPPA is expected to serve as a catalyst in boosting investment flows between the two countries. Mr Ashok Jha, Secretary, Department of Economic Affairs (DEA) signed the agreement from the Indian side and Mr Slobodan Ecimovic, Deputy Minister, Ministry of Foreign Trade and Economic Relations, from the Bosnian side.
An official release said that the agreement provided that nationalisation or expropriation of investments would not be resorted to except in public interest and in accordance with law on a non-discriminatory basis and against fair and equitable compensation.
The agreement also provides for free repatriation of funds of an investor of either country.
Moreover, investments from either country in the territory of the other country would be accorded national treatment and most favoured nation status. This means that investment would be provided a treatment that would not be "less favourable" than that provided by the country to investments of its own investors or investors from any other country.
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