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Post-Soviet Area

17.08.2009

Byelorussian parliamentarians ratify the Agreement on mutual protection of investments in CIS

The members of the House of Representatives of the Republic of Belarus are going to ratify the Agreement on mutual protection of investments in CIS. The question was on the agenda of the Permanent Commission on the International Affaires and Collaboration with CIS of the House of Representatives on the 14 of August, 2009.

The members of the House of Representatives of the Republic of Belarus are going to ratify the Agreement on mutual protection of investments in CIS. The question was on the agenda of the Permanent Commission on the International Affaires and Collaboration with CIS of the House of Representatives on the 14 of August, 2009.

“The ratification of the agreement will promote the development of integration in CIS, expansion of trade-economic and technological cooperation between the countries of the CIS” – Peter Zabko, the first deputy of the Ministry of Finance of the Republic of Belarus reported.

The Agreement will guarantee the investors the right to use their profits after all the taxes have been paid. It specifies the free transition of the investments in the currency they were made in the first turn. The Agreement states the regulation, according to which investors have the right to compensation of losses on the profits caused by civil disorders, military actions, the state of emergency or other circumstances on the territory of the recipient.

We would remind, the Agreement on Encouragement and Protection of investments in the states – members of CIS was signed by the heads of the Republic of Belarus, Republic of Kazakhstan, Kyrgyz Republic, Russian Federation, Republic of Tajikistan in Moscow at the end of 2008