"The Union Cabinet today gave its approval to the Bilateral Investment Promotion and Protection Agreement with the Government of Myanmar and its ratification," Information and Broadcasting Minister P R Dasmunsi told reporters here after the Cabinet meeting.
The agreement will help increase investment flow between India and Myanmar. It will also promote and protect interest of the investors of either country in the territory of the other country, he said. Initially, the agreement would be implemented for a period of 10 years.
He further said provisions of the agreement would continue for a period of 15 years after the termination of the pact to protect existing investments and those made before the pact ends.
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