Taiwan and India sign two bilateral investment plans

India is Taiwan's 16th largest trade partner and one of the 18 countries under President Tsai's New Southbound Policy

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photo courtesy of MOFA

photo courtesy of MOFA

TAIPEI (Taiwan News) – Taiwan and India have signed two bilateral agreements on Tuesday to further boost trade exchange and enhance the security of doing investment between the two countries, according to Ministry of Foreign Affairs (MOFA).

On Dec. 18, the signing ceremony between Taiwan Representative, Tien Chung-kwang (田中光), and his Indian counterpart, Sridharan Madhusudhanan, was held in Taipei City, the Liberty Times reported.

During the ceremony, the two counterparts have signed two agreements of an updated version of the "Bilateral Investment Agreement (BIA)" and Mutual Recognition of the Respective Authorized Economic Operation (AEO) Programs.

The BIA, which was first signed in 2002, and coming into effect in 2005, according to MOFA, was updated in line with international standards, to enhance investment rights for Taiwanese businessmen doing either direct or indirect investments in India.

Meanwhile, AEO programs helped to optimize the import and export processes, supported trade facilitation, and enhanced international supply chains security between two nations.