India to sign IPPA with Trinidad

Mumbai, Mar 09 (UNI) India will sign Investment Protection and Promotional Agreement (IPPA) with Republic of Trinidad&Tobaggo (T&T) in New Delhi tomorrow.

Meant to ensure the protection of interests of all those that are aspiring to put their money in either of the two countries. The agreement will be formally signed by the trade ministers of both the countries.

Talking to UNI on the sidelines of interaction of the trade delegation from T&T with the country's business community, which was held by CII here today, Minister of Trade and Industry of T&T, Kenneth Valley who is leading a 70-member trade delegation from his country to India said,''We are leaving for new delhi tomorrow to sign the important agreement with Government of India''.

Signing of the agreement comprises a part of a hosts of business deals the country has striken with the captains of Indian industry during its current India trip. While Bharat Electronics has evinced its interest in the implementation of CDMA phone connection in T&T, the Bank of Baroda has already gone a step ahead by getting approval from the competitive authority of the country for opening its subsidiery office there.

Another Indian bank which has expressed its wish to open its subsidiery office there is Exim Bank. Moreover, a film producer from Bollywood is also planning to shoot part of its forthcoming film in the beautiful locales the Caribbean country boasts of.

It is on these lines that the two countries are seriously holding talks to start direct flights between them in days to come. Prior to it addressing the interaction session with the Indian industry here today, Mr Valley said,''We strongly believe that India is a cost- competitive country from which we can import some of the primary products that my country requires to augment its industry and hence we want to take our trade relationship to a new high''.

We have provided all the necessary infrastructure as required for you to install your plants in my country in areas like infrastructure, food, music and entertainment, he added.

UNI