Nepal PM terms India visit success

India and Nepal on Friday signed a Bilateral Investment Promotion and Protection Agreement (BIPPA).

Last Updated: Oct 24, 2011, 00:08 AM IST

Kathmandu: Nepal Prime Minister Baburam
Bhattarai on Sunday described his India visit a success, but was
greeted with black flags by a faction of the ruling Maoist
party as he arrived back home.

The four-day trip has "added new dimension to Indo-Nepal
relations," said Bhattarai, who headed a 37-member delegation,
including half-a-dozen ministers to India.
Talking to media briefly upon his arrival, the Prime
Minister termed the visit as successful.

India and Nepal on Friday signed a Bilateral Investment
Promotion and Protection Agreement (BIPPA), which will help in
reducing the cost of doing business by entrepreneurs of the
two countries.

"We are in the process of setting a board of investments,
which is a body chaired by the Prime Minister.

This outfit will be a helping hand for the potential investor
to smoothly execute investment," Bhattarai had said at a
function organised by industry chambers in New Delhi on
October 21.

However, the agreement has been opposed by a faction of
the UCPN-Maoist, which is leading the coalition in the
country.

Some 150-200 Maoist cadres close to hardline leader and
senior vice chairman of the party Mohan Vaidya "Kiran"
gathered outside the Tribhuvan International Airport and
shouted slogans against Bhattarai and the BIPPA, eye-witnesses
said.

They also showed black flags as his vehicle passed along
the Ring Road coming out of the airport.

Senior Maoist leader Ram Bahadur Thapa and CP Gajurel
have also criticized Bhattarai for signing the BIPPA, terming
it against the national interest.

However, Maoist spokesman Dinanath Sharma has welcomed
the landmark agreement, saying the "deal was signed as per the
decision of the party`s standing committee."

PTI