Nepal likely to sign BIPPA with 5 countries

Nepal is likely to sign a Bilateral Investment Promotion and Protection Agreement (BIPPA) with five countries in the next two months. The countries are China, Pakistan, Turkey, United Arab Emirates and Qatar. ‘Nepal has finalised the draft proposal on BIPA sent by China. We have reached a final stage concerning the BIPPA with the other four countries,’ Industry Ministry Mahesh Basnet told reporters on Wednesday. Basnet said the BIPPA is hoped to attract more foreign direct investment and boost industrialisation in Nepal. Officials said the agreement will be signed once the finance and foreign ministries give their clearance. Nepal and India signed a BIPA two years ago, according to bernama.com