New Delhi, June 5 : The Union Cabinet today gave its approval to a bilateral investment promotion and protection agreement with Myanmar and ratification thereof.
The objective of the agreement is to promote and protect the interests of investors of either country in the territory of the other country. It will also increase investment flow between India and Myanmar.
The agreement will remain in force initially for a period of ten years.
To protect existing investments, it has been provided that in respect of investments made before the termination of the agreement, its provisions will continue in effect with respect to those investments for a period of 15 years after the date of termination.