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India and Mexico signed a mutual promotion and protection of investments agreement or APRI—the first such agreement India has signed with a NAFTA member country. The agreement, also referred to as a Bilateral Investment Promotion And Protection Agreement (BIPPA), is intended to stimulate investments between the two countries.
Indian Finance Minister, P. Chidambaram said at the signing that India's investments in Mexico have surpassed the US$1.5 billion mark.
Because Mexico is a NAFTA partner, the agreement should help Indian companies access the U.S. and Canada as well.
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