Who Signed Bippa Agreement Of Nepal

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. With respect to compensation, if investors earn compensation, this is “the fair market value of the investment expropriated just before the expropriation or before the expropriation to come, depending on the previous one,” Investors may request a review of the compensation offered on the basis of the laws of the host country. While the interpretation of these provisions is controversial, the scope of the definition of these issues should also apply to investments in both countries. It does not apply to claims that were invoked prior to the implementation of the agreement, which means that some Indian companies, such as UTL and Dabur Nepal, cannot claim compensation for losses already inflicted on their operations. It should be noted that Bhattarai signed the BIPPA with India when he was Prime Minister, although he fired flak from the unified CPN-Maoïot, his former party. Article 6 of the bippa article signed with India provides compensation for investors who suffer losses due to war, armed conflict and a state of emergency. “These investors are treated by the host country, no less than the treatment given to its own investors or investors in a third country. Any payment under this article is freely transferable,” the agreement states. However, government officials and private sector officials say the government must ensure investors have the security of their investments to attract foreign investment. Given the increase in Chinese investment in Nepal, stakeholders say the bippa will help boost investment further.