MINSK, 17 April (BelTA) – The draft law “On Ratification of the Investment Promotion and Protection Agreement between the Government of the Republic of Belarus and the Government of the Republic of Equatorial Guinea” was approved at the meeting of the first session of the House of Representatives of the National Assembly of Belarus of the eighth convocation on 17 April, BelTA has learned.
The bill was submitted to the House of Representatives by the Council of Ministers on 20 March 2024. It has been prepared to express Belarus’ consent to be bound by the agreement between the governments of Belarus and Equatorial Guinea on the promotion and mutual protection of investments, signed in Malabo on 9 December 2023 on the basis of Decree No.378 “On the draft international treaty” of the President of the Republic of Belarus of 28 November 2023.
The agreement provides for the following: creation of favorable conditions for investment, provision of investors with treatment in accordance with the minimum standard of treatment of foreigners provided for by international law, including fair and equal treatment, full protection and safeguarding, and protection from forced seizure of property equal to the value of the investor's property.
The bill was submitted to the House of Representatives by the Council of Ministers on 20 March 2024. It has been prepared to express Belarus’ consent to be bound by the agreement between the governments of Belarus and Equatorial Guinea on the promotion and mutual protection of investments, signed in Malabo on 9 December 2023 on the basis of Decree No.378 “On the draft international treaty” of the President of the Republic of Belarus of 28 November 2023.
The agreement is aimed at creating a legal basis for bilateral relations in investment cooperation, strengthening the guarantee of protection of capital investments. Ratification of the agreement will make it possible to use effective mechanisms to protect Belarusian investors in the Republic of Equatorial Guinea, which will contribute to the development of trade and economic cooperation.
The agreement provides for the following: creation of favorable conditions for investment, provision of investors with treatment in accordance with the minimum standard of treatment of foreigners provided for by international law, including fair and equal treatment, full protection and safeguarding, and protection from forced seizure of property equal to the value of the investor's property.
