India and Seychelles today signed an agreement for bilateral investment protection. The agreement was signed after the delegation level talks between the Prime Minister Dr. Manmohan Singh and the visiting President of Seychelles James Alix at Hydarabad House this afternoon. AIR correspondent quoting official sources reports that the focus of discussions at the talks remained on security and defence collaboration particularly dealing with piracy. Seychelles economy has been hit badly by the increasing incidents of attacks by Somali pirates on commercial ships, cruise liners and private boats, costing it around 8 billion euros a year.<br/>Earlier the visiting president was accorded ceremonial reception at the fore court of Rashtrapati Bhawan. <br/>Talking to AIR, the President of Seychelles sought more collaboration with India for safeguarding common interests in the Indian Ocean. Mr.James Alix Michel said that there is a common threat of piracy among others concerns and he wants to enhance cooperation in anti-piracy operations. Mr. Michel said that his country would like to further augment bilateral cooperation with India in other sectors as well.<br/>A new initiative to further strengthen the bilateral partnership was finalized at the recently held joint commission meeting of the two countries and this initiative will be rationalised during the visit.<br/>The President, Mrs. Pratibha Devisingh Patil is hosting a banquet in the honour of the visiting dignitary this evening. The Vice President, Mohammed Hamid Ansari, Leader of the Opposition in the Lok Sabha, Mrs. Sushma Swaraj and the Minister of State for External Affairs, Preneet Kaur will call on the visiting President and exchange views on the issues of mutual interest. <br/>