India and Zimbabwe on 21 September 2011 have agreed to expedite the ratification of BIPA (Bilateral Investment Promotion and Protection Agreement) between India and Zimbabwe for further strengthening the investment and trade ties between the two countries.
This was one of the important outcomes of the bilateral meetings between minister of state Commerce and Industries Jyotiraditya M. Scindia and his counterpart minister from Zimbabwe Government.BIPA aims at boosting bilateral investments. The BIPA was signed between India and South Africa in February 1999 but hasn’t come into force. The Bilateral trade between India and Zimbabwe stood at 125 million US dollars in 2010-11.
Scindia informed his Zimbabwe counterpart that it had been decided to further strengthen the India-Zimbabwe bilateral ties by setting up Rural technology Park and Food testing laboratory in Zimbabwe.India and Zimbabwe also launched a chamber of commerce during his visit.
