India to ink deals with Britain, Bangladesh

India will sign an accord on rules regarding film cooperation with Britain, aimed at promoting co-production of movies, and also an investment promotion pact with Bangladesh.

The cabinet meeting chaired by Prime Minister Manmohan Singh on Thursday gave its approval to the information and broadcasting ministry for signing the Annex (Rules of Procedure) to the Film Co-production Agreement with the government of UK and Northern Ireland.

"The agreement will enable the Indian film industry to co-produce films with the film industry of the UK," Information and Broadcasting Minister P R Dasmunsi told reporters. "The agreement will encourage the making of films reflecting the diversity of culture and heritage of both countries. The benefits will flow to both co-producers." Dasmunsi said the cabinet also gave approval for signing and ratifying the Bilateral Investment Promotion and Protection Agreement (BIPA) with Bangladesh.

"The objective of BIPA is to promote and protect the interests of investors of either country in the territory of the other country," he said. "Such agreements increase the comfort level and boost the confidence of the investors by assuring a minimum standard of treatment and non-discrimination in all matters while providing for justifiability of disputes with the host country." The minister said the agreement was "likely to increase investment flow between India and Bangladesh." (IANS)

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