The revised India-Bangladesh bilateral trade agreement is likely to be signed soon. The modalities for the agreement were thrashed out at a joint working group meeting of the two countries yesterday.
India is seeking to amend bilateral trade treaties with foreign countries by diluting international protection agreements - a move which will provide the government respite against any international arbitration, a la Dabhol or Maruti.
The six-nation Gulf Cooperation Council (GCC) countries are exploring the possibility of signing a free trade agreement (FTA) with India, Commerce Minister of the Kingdom of Bahrain, Ali Saleh Al Saleh, has said.
When the seven SAARC members signed the free trade agreement (SAFTA) in January 2004, there was some scepticism regarding its progress and implementation, given that SAARC itself had been mired under inter-state tensions.
At the risk of destroying local industry, India has to tread the free
trade pact route.
Two minority investors in India’s largest foreign investment, the ill-starred Dabhol Power Plant, have launched a bilateral investment treaty (BIT) claim against India in an effort to recoup their losses related to the plant.