New India-UAE pact to protect investors

India and the UAE will sign an agreement next week that will ensure promotion and protection of bilateral investments, said the outgoing Ambassador of India to the UAE, MK Lokesh.

Ambassador Lokesh made the announcement while speaking at the farewell lunch organised in his honour by Indian Business and Professional Council Dubai on Sunday.

The Bilateral Investment Protection Agreement (BIPA) will provide a comprehensive framework to investors from both countries.

?India and UAE have historic ties. The relationship is important for both the countries. Both sides have worked hard to get this agreement ready that will regain investor confidence. A delegation from UAE headed by the Foreign Minister will visit New Delhi next week to sign the agreement with the Indian foreign Minister,? said Lokesh, who is among the brains behind BIPA.

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