Union Cabinet approves Bilateral Investment Treaty between India and Cambodia
Posted on: 29 Jul 2016 09:16:14
29 July 2016 Current Affairs: The Union Cabinet has approved Bilateral Investment Treaty (BIT) between India and Cambodia to boost trade and business. Decision in this regard was taken during the Union Cabinet Meeting chaired by Prime Minister Narendra Modi in New Delhi.
The Treaty seeks to promote and protect investments in either country with the objective of increasing bilateral investment flows.
It also seeks to encourage each country to create favourable conditions (climate) for investors of the other country to make investments in its territory and also to admit investments in accordance with its laws.
This Treaty is the first Bilateral Investment Treaty (BIT) signed between both countries in accordance with the text of the Indian Model BIT which was approved by the Union Cabinet in December, 2015.
FreshersLive - No.1 Job site in India. Fresherslive Current Affairs 2017 section offers informative quiz questions with answers regarding latest current affairs today for all sorts of competitive exams like UPSC, TNPSC , IFS, IAS, IPS, railway exams (RRB) and banking exams like IPBS PO, IPBS clerk, Federal Bank PO, ICICI, SBI, RBI legal officer & Grade officer posts and much more. Register with us to get latest Current Affairs Updates. Also get latest Current Affairs news and quiz Updates for free alerts daily through E-mail