The Netherlands wants to conclude a bilateral investment protection agreement with India and fully supports the proposed free trade agreement (FTA) between India and the EU, says the country’s deputy prime minister , Wopke Hoekstra, during a briefing in his office.
Signing bilateral investment protection agreements might take longer, even if everyone is working on it very diligently, but he would personally devote time to it, said Hoekstra, who is also foreign minister.
“I have been Minister of Finance for four years and therefore know from experience that any type of treaty, even among the closest of friends, sometimes takes a while to come to change and improve. What I I really hope, and what I personally would really like to invest in and that’s true for the whole cabinet here, is to make sure that we create those kinds of arrangements with India,” the minister said.
By 2015, India had terminated bilateral investment treaties with 73 countries after a series of disputes were referred to arbitration under those treaties, including some under the treaty with the Netherlands. , a major source of foreign direct investment for India. However, very few treaties have been signed on the basis of the new model text that India presented in 2015. These are Brazil, the Kyrgyz Republic, Belarus and Taipei, according to information from the Ministry of Foreign Affairs. Finance.
Bilateral investment protection agreements give foreign investors the confidence to make investment decisions.
The Netherlands backed the FTA that India is negotiating with the EU, Hoekstra said. “An FTA with the EU is something we would clearly support. We are very impressed with India’s capabilities in terms of trade,” he said.
“Our trade relationship is of paramount importance, but a broader FTA between the EU and India would also provide more opportunities for India vis-à-vis the whole European continent. If there is anything that I can do, that the Dutch government can do, to facilitate this, we would of course be happy to do so. It’s really a win-win,” the minister said.
An email sent to the Department of Finance seeking comment on Wednesday went unanswered at press time.
(The writer is in the Netherlands at the invitation of the Dutch government)