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27 May 2024, 14:29

Belarus, Equatorial Guinea to deepen cooperation in investment

An archive photo
An archive photo
MINSK, 27 May (BelTA) – Belarus and Equatorial Guinea will step up cooperation in investment, BelTA learned from the press service of the Economy Ministry.

On 21 May, the head of state signed the law “On the ratification of the agreement between Belarus and Equatorial Guinea on the promotion and mutual protection of investments”. This law formalizes Belarus’ consent to be bound by the intergovernmental agreement on the promotion and mutual protection of investments signed in Malabo on 9 December 2023.

“The document is aimed at creating a legal framework for investment cooperation and strengthening guarantees for investment protection. The ratification of the agreement will allow using effective mechanisms to protect Belarusian investors in Equatorial Guinea and thereby facilitate trade and economic cooperation,” the Economy Ministry noted.

The agreement seeks to create an enabling environment for investments and to guarantee the minimum standard of treatment of foreigner investors under international law, including fair and equal treatment, full protection and security. In addition, the document offers protection from forced seizure of property equivalent in consequences to expropriation and nationalization. The document also guarantees the possibility of applying to an international arbitration court to protect rights and interests.
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