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India, Maldives launch talks to promote, protect bilateral investment

2014年01月03日 00:20
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  NEW DELHI, Jan. 2 (Xinhua) -- India and Maldives have launched negotiations on an agreement for promotion and protection of bilateral investment, said visiting Maldivian president Abdulla Yameen here Thursday.

  "I believe that mutual investment promotion is of utmost importance for developing business between our two countries," the Maldivian president said at a meeting with Indian entrepreneurs.

  Indian Minister of State for Commerce E.M.S. Natchiappan said at the meeting the two countries have come forward to promote negotiations for a Bilateral Investment Promotion and Protection Agreement.

  Local media said such an agreement has assumed urgency because of problems in bilateral investment which were produced by previous Maldivian government's decision to cancel a 500 million U. S. dollar contract with an India group for Male airport.

  India Thursday also announced the lifting of the ban on the export of stones to the Maldives, a move hailed by the Maldivian president.

  Trade between India and the Maldives stands at 128 million U.S. dollars. India is enjoying heavy trade surplus with its tiny island neighbor.

关键词: the - Maldives - bilateral - Maldivian - investment - said - negotiations - countries - Thursday
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