India and Brunei ink agreements on economic cooperation

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New Delhi, May 22 : Union Finance Minister P. Chidambaram today signed an agreement on economic cooperation with Haji Abdul Rahman bin Haji Ibrahim, his counterpart from Brunei.

While signing the agreement, Chidambaram said that India is willing to meet human resources requirements of Brunei.

"We hope that more investments will flow from Brunei to India. I think their requirements are not so much funds as human resources and I have offered that whatever human resources are required," Chidambaram added.

Ibrahim said that the agreement would facilitate more trade and investment opportunities for the businessmen of both the countries.

"This agreement will protect the interest of the investors of both countries and will go a long way in facilitating our trade and investment cooperation. At the same time, it will give investment, particularly business people can access the business opportunity in India and in Brunei Darussalam. This certainly will generate more economic activities in both countries," Ibrahim added.

India and Brunei will sign four pacts, including Bilateral Investment Promotion and Protection Agreement (BIPPA).

Besides this, MoUs on information and communication technology, trade and economic cooperation and cooperation in the spheres of culture, arts, mass media and sports are expected to be signed.

ANI

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