India, Brunei sign Bilateral Investment Protection Agreement

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New Delhi, May 22 (UNI) India today signed a Bilateral Investment Promotion and Protection Agreement with Brunei which seeks to promote investments from either country.

The agreement was signed between Finance Minister P Chidambaram and Brunei Finance Minister Pehin Dato Rehman Ibrahim.

Mr Chidambaram said Brunei becomes the 70th country with whom India has signed BIPA.

Observing that Brunei is the third largest producer of oil in South Asia and the fourth largest producer of LNG.

India's Finance Minister hoped the agreement would serve as a catalyst in boosting investment flows between the two countries.

UNI GS SR CS2120

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