Monday, July 25 2005 19:19 Hrs (IST) - World Time -

New Delhi: To increase the flow of investment between India and Senegal, the union cabinet today (July 25, 2005) approved the signing and ratification of a bilateral investment promotion accord with Dakar.

India has so far signed the Bilateral Investment Promotion and Protection Agreement (BIPA) with 57 countries, since 1994, Information and Broadcasting Minister S Jaipal Reddy told reporters after the cabinet meeting chaired by Prime Minister Manmohan Singh.

He said similar agreements have been finalised with eight other countries and negotiations were on with another 25 nations.

The cabinet also approved two proposals for signing and implementation of agreements for mutual waiver of visa requirements with Republic of Korea and Venezuela.

The decision would lead to visa-free entry and stay for 90 days in both the countries for Indian diplomatic and official passport holders and vice-versa.