The Bilateral Investment Promotion and Protection Agreement (BIPA) between India and Sudan came into effect from Monday with the exchange of instruments of ratification (IoR) between the two countries.
According to an official statement here, BIPA seeks to promote and protect investments from one country in the other country. Such agreements facilitate bilateral investment flows and grant benefits of national treatment (NT) and most favoured nation (MFN). So far, India has inked BIPA with 79 countries of which 68 are already in force. Sudan is the 69th nation with which the provisions of the agreement have now come in to effect.
The instruments of ratification were exchanged by Joint Secretary (Infrastructure and Investment), Department of Economic Affairs, Govind Ram and Sudan's Ambassador to India Khidir Haroun Ahmed at a function here.
