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BIPPA has been misunderstood:PM

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KATHMANDU, Oct 24: Amid protests from within his own party, Prime Minister Dr Baburam Bhattarai said the Bilateral Investment Protection Act (BIPA) has been misunderstood in Nepal and said he would try to make leaders from his own party understand it.



“It has been misunderstood,” the prime minister told media persons upon his arrival at the Tribhuvan International Airport after completing a four-day official visit to India. “The agreement will open new opportunities for Nepal´s economic development. It will attract investments to Nepal.”[break]

 

While the prime minister was defending the agreement, supporters of the senior Maoist Vice-chairman Mohan Baidya and General Secretary Ram Bahadur Thapa “Badal” were shouting slogans against the prime minister for signing the BIPA agreement.



The prime minister, however, claimed that he has taken the protests positively. “It is positive that they are protesting to caution me against making mistakes. But no mistake has been made.”  



Stating that BIPA is not against the country´s interests, the prime minister said, “India is the largest investor in Nepal. BIPA will create an environment for attracting investments from India.”



Terming his visit successful, the prime minister also said his visit has paved the way for creating an environment of trust between the two south Asian neighbors.



“The visit also added a new dimension to our bilateral relations and has dispelled bitterness between the two countries,” the prime minister said. 



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