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Thursday, December 9th, 2021

BIPA Signed Between India and Sudan; Comes Into Force

INVC,, Delhi,, Bilateral Investment Promotion and Protection Agreement (BIPA) between the Republic of India and the Republic of Sudan has become effective from today with the exchange of Instruments of Ratification (IoR) between them. Shri Govind Mohan, Joint Secretary (Infrastructure & Investment), Department of Economic Affairs, Ministry of Finance, Government of India and H.E Mr. Khidir Haroun Ahmed, Ambassador of the Republic of the Sudan in New Delhi exchanged the Instruments of Ratification in a ceremony, here today. 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. BIPAs facilitate bilateral investment flows and grant benefits of National Treatment (NT) and Most Favoured Nation (MFN). With the exchange of IoR today, Sudan becomes the 69th country with which our BIPA has become effective. BIPA between India and Sudan was signed on 22nd October 2003 by the Minister of Disinvestment and Communication and Information during his visit to Khartoum, Sudan. Indian model text was the basis of negotiation. Our Cabinet had approved signing and ratification of BIPA with Sudan in January 2003. 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. Investments from either country in the territory of the other country are to be accorded National Treatment and Most Favoured Nation Treatment implying that the investment shall be provided a treatment which is not less favourable than that provided by the home country to investments of its own investors or investors from any other country. Besides, investors are to be provided Most Favoured National Treatment in respect of their investment. It also provides an elaborate dispute resolution mechanism which includes recourse to negotiations, conciliation and international arbitration.

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