These arguments are unnecessary, unfounded and totally illogical. If BIPPA is contrary to our national interest, why didn`t we hear a resounding outcry at this level when Nepal signed the BIPPA with other countries? It is important that the self-centered leaders who reject BIPPA explain exactly how Nepal was dominated and that workers` rights were eroded by the signing of such an agreement with five countries before India was done. In our investment-plagued economy, increased investment is certainly a good thing and is in our national interest, because they will create more jobs, income and potentially stimulate growth. While Nepal has already signed the BIPPA with six countries (including India), India has signed such an agreement with 80 countries (as of May 2011), 70 of which have already entered into force and the rest are in the process of being implemented. Nepal signed its first BIPPA with France on May 2, 1983. It was followed by agreements with Germany (20 October 1986), the United Kingdom (2 March 1993), Mauritius (3 August 1999), Finland (3 February 2009) and India. In South Asia, India has a BIPPA with Sri Lanka, Bangladesh and Nepal. The agreement aims to encourage and protect investment from the two countries of the other country, with the ultimate goal of increasing bilateral investment flows. The concept of investment encompasses all types of assets, including intellectual property rights. In 2011, when Nepal signed Bippa with India during former Prime Minister Baburam Bhattarai`s stay in India, the compensation clause was controversial, with a ruling faction of the UCPN (Maoist) opposing the deal. The overall objective of BIPPA is to increase FDI inflows. In this regard, recent studies show that investment protection agreements, such as BIPPA, do have a positive effect on foreign direct investment, particularly when they come from relatively high-income, export-intensive countries to low-income countries. The impact is higher in countries where domestic institutions are weak, with investors relatively more confident in investing in the country under investment protection agreements.
With regard to employment, there is some evidence that foreign investors pay relatively higher wages on average and employ more workers than their domestic counterparts in certain sectors, particularly in manufacturing. We have already seen that this is also the case in our case. With regard to Nepal`s proposal for a tripartite agreement between Nepal, Bangladesh and India to improve railway and waterway transit between the three countries and between the three countries, Bangladesh agreed to review the concept as soon as it was received by Nepal. It was published in Republica on October 26, 2011, p. 7. This is the bilateral investment promotion and protection agreement (BIPPA) signed on 21 October 2011 between Nepal and India. KATHMANDU: Prime Minister KP Sharma Oli on Friday briefed the high-level political coordination committee headed by NPC President Pushpa Kamal Kamal Dahal on preparations for his upcoming visit to China. Following the meeting, HLPCC leaders proposed to the Prime Minister to sign a trade and transit agreement with China. They also asked him to take initiatives towards the signing of agreements on the development of special economic zones and other development projects.
The HLPCC meeting also wished PM a successful visit to China, Dahal said. Bishnu Prasad Dhakal, undersecretary of the Industry Promotion Department of the Ministry of Industry, said the project sent to China was similar to the one signed with India. “Since the bippa signed with India is the last, it has been made the standard document for the agreement with China. We have modified some of the content of the project sent by China prior to the minister`s approval,” Dhakal said. THE BIPPA is a legal instrument that defines specific rights and obligations to protect foreign investment from discriminatory measures (i.e.: