Question: Recently, the joint declaration between India and Colombia was approved in relation to the agreement signed between the Union of India and the Republic of Colombia between the Union Cabinet?
(a) For trade and commerce
(b) For cooperation in the information and technology sector
(c) For the promotion and protection of the investment
(d) For cooperation in the field of space technology
Answer:(c)
Related Facts:
- On November 10, 2017, Union Cabinet has given approval for signing the Joint Interpretative Declaration (JID) between India and Colombia regarding the existing Agreement for the Promotion and Protection of Investments between India and Colombia.
- The agreement was signed on November 10, 2009.
- The JID would impart clarity to the interpretation of the existing Agreement as it includes interpretative notes to be jointly adopted for many clauses, including, the definition of investor, definition of investment, Fair and Equitable Treatment (FET), National Treatment (NT) and Most Favoured Nation (MFN) treatment, expropriation, Investor – State Dispute Settlement provision and Denial of Benefits.
- Joint Interpretative Declarations/Statements in general play an important supplementary role in strengthening the investment treaty regime.
Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=173390
http://www.thehindubusinessline.com/economy/policy/cabinet-approves-dtaa-with-hong-kong/article9953273.ece