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Bilateral Agreement With China Similar To BIPPA With India
By KTM Metro Reporter
September 21, 2012: China is trying to extract significant concessions from Nepal in a bilateral investment protection agreement being negotiated similar to the India-Nepal BIPPA agreement signed between India and Nepal almost a year ago. China sought the government bonds and debt as investments but Nepal declined to agree on these clauses.
After Prime Minister Dr. Baburam Bhattarai signed off the BIPPA with India about a year ago, the prime minister had said that Nepal intended to sign a similar pact with China to boost the Chinese investment in Nepal.
The Vaidhya Maoists have been protesting the BIPPA, and have included the cancellation of BIPPA in the 70-point demand they have submitted to the prime minister recently. However, they have not reacted to the similar pact with China, yet.
The Chinese pact has asked for full protection and police security for investors and investment. In this case, Nepal would need to protect Chinese investments. Indian investments are not covered, and in the recent past Indian-owned companies have come under attack by Maoist cadres etc, according to ‘The Times of India’ of today.
http://timesofindia.indiatimes.com/india/Nepals-sweetheart-deal-with-China-may-hit-India/articleshow/16483076.cms
