Bangladesh and India signed two agreements Thursday, a protocol on promotion and protection of investment and the other on transit to Bhutan.
They signed the protocol on 'exchange of instruments of ratification of the India-Bangladesh agreement on promotion and protection of investments (BIPPA)' to provide 'national treatment' and 'most favoured nation treatment' to investments from investors of the other country.
The two countries also signed a separate agreement on 'Standard Operating Procedure (SOP) for movement of Bhutanese vehicles between Indian Land Custom Stations and Bangladesh Land Custom Stations' to allow trucks from Bhutan to enter 200 meters inside Bangladesh.
With signing of the protocol, the 'Agreement on Promotion and Protection of Investments', which the two countries signed on February 9, 2009, came into force immediately.
Bangladesh High Commissioner in India Tariq A Karim and Indian High Commissioner in Dhaka Rajeet Mitter signed the protocol on behalf of their governments.
National Board of Revenue member Shah Alam Khan and Indian external affairs ministry joint secretary Vardhan Shringla signed the agreement for their countries.
The agreements were signed at a city hotel in the presence of foreign minister Dipu Moni and her Indian counterpart SM Krishna.
'BIPPA provides for creation of favourable conditions for fostering and encouraging investments. It also envisages that "National" treatment and "Most Favoured Nation" treatment to be accorded by either country to investments of investors of the other country,' according to a brief distributed among reporters after signing of the agreements.
The agreement states that investments of either country would not be 'nationalised or expropriated except for public purpose in accordance with law and against fair and equitable compensation'.
It also provides for repatriation of capital investment, non-operating profits, loan repayments, royalty payments and service fees without delay and on a non-discriminatory basis.
The agreement is valid for ten years and thereafter it would be deemed to have been automatically extended unless either government gives a written notice to the other government of its intention to terminate the deal, the brief stated.
Speaking at a joint news conference after an hour-long official talks followed by signing of the two agreements, the two foreign ministers expressed the optimism that most of the contentious issues including water sharing of two common rivers Teesta and Feni and border demarcation would be resolved during the visit of Indian Prime Minister Manmohan Singh to Dhaka in September.
'We have made substantial forward movement in the field of water resources. Both sides are discussing interim water sharing of Teesta and Feni rivers,' Krishna said in a written statement.
Replying to a question, Dipu Moni said the sharing of the waters of the two rivers would be done on the basis of equity and fair share.
She said that the
Bangladesh-India Joint Rivers Commission had nearly finalised the sharing of Teesta and Feni waters.
'We will be able to sign something during the (Indian PM's) visit', she said.
On border and land disputes, Dipu Moni said the issues of demarcation of 6.5 kms of border, transfer of enclaves and lands in adverse possession would be resolved under 'a package' in the spirit of 1974 Mujib-Indira Land Boundary Agreement.
Krishna said the two sides 'are engaged in a process' to seek a comprehensive resolution of outstanding land boundary issues.
About connectivity and the use of Chittagong and Mongla ports, Dipu Moni said it would be done under a framework of agreement encompassing India, Nepal and Bhutan.
'It is a part of the transit issue. We're trying to come up with a framework under which a number of protocols will be signed and that work is going on,' she said.
Krishna said both the sides 'are working on several projects to improve trade-infrastructure and connectivity.'
About killings of Bangladeshi civilians by Indian BSF at the border, Dipu Moni said Dhaka's concern on the border killings was conveyed to India during her official talks with Krishna yesterday morning.
Krishna said that the government of India asked BSF to exercise maximum restraint during border shooting and deal situations from a humane perspective.
Both the ministers reiterated that no insurgent, extremist or terrorist group would be allowed to use the soil of their respective countries to carryout activities inimical to each other's interest.
Regarding Bangladesh importing power from India, Krishna said India would supply 250 MW of electricity to Bangladesh by the end of 2012 or in the summer of 2013 at a preferential rate at which the Indian power generation company NTPC supplies electricity to Indian provinces.
He said feasibility study on setting up of a 1300 MW coal-based power plant in Bagerhat has been completed.
Regarding bilateral trade, he said India wants growth of the export from Bangladesh.
Asked about Indian PM's recent controversial remarks that 25 percent population of Bangladesh are Jamaat-e-Islami and they are, many times, in the clutches of Pakistan spy agency ISI, Krishna said the Indian government has given a clarification and he himself discussed the matter with prime minister Sheikh Hasina when her met her Thursday.
Replying to a question from New Age on whether Manmohan's remarks that 'a political landscape in Bangladesh can change any time' had deepened mistrust between the two neighbours, Krishna said there is no trust deficit between Bangladesh and India.
The relations between the two countries would be a 'role model' for other countries in South Asia, he said.
He also said, India has 'total trust and confidence' on Bangladesh.
Krishna called on president, Zillur Rahman and prime minister, Sheikh Hasina, on Thursday.
Krishna is scheduled to call on the leader of the Opposition, Khaleda Zia, this morning.
He leaves Dhaka for New Delhi in the afternoon.
Source : New Age
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