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COLOMBIA - India and Colombia Sign Investment Agreement

* COLOMBIA

India and Colombia Sign Investment Agreement
The agreement will take effect once they’ve both decided on the internal procedures for each country

Trade ministers of Colombia, Luis Guillermo Plata, and India, Anand Sharma, signed today an Agreement on Investment Promotion and Protection, seeking to strengthen trade relations between the two nations. The agreement will help stimulate investment flows to Colombia and will benefit the oil, coal, mining, and pharmaceutical industries, among others. The agreement will enter into force once both countries have produced the internal procedures for each country. In India’s case, the signing of this agreement must be approved by cabinet members, and subsequently by the prime minister. Then it must be ratified by India. In the case of Colombia, it must pass through and be ratified by Congress and the Constitutional Court, following the signing of the agreement, before it becomes valid. The signing will take place during an international tour by Minister Plata and Foreign Minister Jaime Bermudez.
Nov-10-2009 07:11pm