Bimstec Framework Agreement

IIA Navigator This IIAs database – the IIA Navigator – is managed by the IIA section of UNCTAD. You can browse THE IIAs that are completed by a given country or group of countries, view the recently concluded IIAs, or use advanced research for sophisticated research tailored to your needs. Please mention: UNCTAD, International Investment Agreements Navigator, available at In addition, an agreement on cooperation and mutual assistance in customs matters should soon be concluded to simplify customs procedures, he stressed. The draft BIMSTEC cabotage agreement was discussed in New Delhi on 1 December 2017 to facilitate coasting in the region 20 nautical miles from the coast to stimulate trade between Member States. Compared to deep-sea navigation, inshore vessels require smaller vessels with lower draughts and lower costs. As soon as the agreement enters into force after ratification, a large number of freight movements between Member States can be made through cheap, environmentally friendly and faster coasting routes. [18] Fourteen priority areas of cooperation have been identified and several BIMSTEC centres have been set up to focus on these sectors. [4] [7] A BIMSTEC free trade agreement is being negotiated (around 2018), also known as mini-SAARC. There is no consensus in various areas, including ways to reduce and eliminate tariffs, rules of origin criteria, customs operations and negotiations on services and investment agreements, he said. International investment agreements (AI) are divided into two types: (1) bilateral investment agreements and (2) investment contracts.

A bilateral investment agreement (ILO) is an agreement between two countries to promote and protect investments made by investors from the countries concerned in the territory of the other country. The vast majority of IDu are bits. The category of contracts with investment rules (TIPs) includes different types of investment contracts that are not BITs. There are three main types of TIPs: 1) global economic contracts that contain commitments that are often included in ILOs (. B, for example, a free trade agreement with an investment chapter); 2. contracts with limited investment provisions (for example. B, investment creation or free transfer of investment-related funds; and 3) contracts that contain only “framework clauses,” such as. B on investment cooperation and/or a mandate for future investment negotiations. In addition to IDAMIT, there is also an open category of investment-related instruments (IRIs). It includes various binding and non-binding instruments, such as model agreements and draft instruments, multilateral conventions on dispute settlement and arbitration rules, documents adopted by international organisations and others. The sixth BIMSTEC TEMM meeting is scheduled in Dhaka, Bangladesh. At the 17th Meeting of Senior Officials (SOM) held in Kathmandu on 7 February 2017, the Bangladesh delegation stated that the dates of the fifth BIMSTEC Senior Trade/Economic Officials Meeting (STOEM) and the sixth BIMSTEC TEMM meeting [1] would be communicated three agreements and a PROTOCOL on BIMSTEC FTA being negotiated.

“The long BIMSTEC free trade area must be established as soon as possible. The conclusion of the Goods Trade Agreement, which was to be signed as soon as possible, has made considerable progress,” said Mr. Paudel, Director of the BIMSTEC Secretariat, at an event organized by the Indian Chamber of Commerce (ICC). The IIA browser is constantly adapted by reviewing and commenting from UN member states. It is based mainly on information provided by governments on a voluntary basis.