India-Bangladesh Joint Interpretative Notes (JIN) Agreement

On 12th of July, 2017, the Union Cabinet chaired by Prime Minister Narendra Modi has approved the Joint Interpretative Notes (JIN) agreement between India and Bangladesh.

Objective of this agreement is to work towards promotion and protection of investments and impart clarity to the interpretation of existing BIPA (Bilateral Promotion and Protection of Investments) agreement between the two countries. Joint Interpretative Notes provide interpretation of many cluases and definitions such as those of investors, investments, exclusion of taxation matters, Fair and Equitable Treatment (FET), National Treatment (NT) and Most Favoured Nation (MFN) treatment, expropriation, essential security interests and Settlement of Disputes between an Investor-and a Contracting Party.

Joint Interpretative Notes would play a supplementary role in strengthening the investment treaty regime between the two countries. This agreement further gets its relevance from increasing Bilateral Investment Treaty (BIT) disputes and would foster predictable and coherent reading of treaty terms by arbitration tribunals.