India, Sudan implement pact to protect investments

New Delhi, Oct 18 (PTI) India and Sudan, a northeastern
African country, Monday implemented an agreement to enable
promotion and protection of investments in each other's
territories.
"Bilateral Investment Promotion and Protection Agreement
(BIPA) between the India and Sudan has become effective from
Monday," an official statement said.
In case of India and Sudan, the bilateral investment is
negligible.
India has so far signed BIPA with 79 countries. Of these,
68 have already come into effect.
BIPA seeks to promote and protect investments from one
country in the other country. It also facilitate bilateral
investment flows and grant benefits of National Treatment and
Most Favoured Nation (MFN).
"The agreement requires both the countries to encourage
and create favourable conditions for investors of each other
to make investments in their territory and to admit
investments in accordance with their laws," the statement
said.
The pact also provides an elaborate dispute resolution
mechanism which includes recourse to negotiations,
conciliation and international arbitration.
The two-way trade between the countries was USD 936
million in 2009-10.