Moldova, Turkey to sign new agreement on mutual promotion, protection of investments

Chisinau, 23 March /MOLDPRES/ - The cabinet of ministers at a today’s meeting approved the signing of a new agreement between the governments of Moldova and Turkey on mutual promotion and protection of investments, the government’s communication and media relations department has reported.   

The document is meant to boost the friendship ties between the sides and ensure development of reciprocally advantageous commercial and economic collaboration. At the same time, besides creation of friendly conditions for increasing and protecting the investments made by private people and legal entities, the new act will also regulate the way eventual disputes and divergences are settled.  

The inter-governmental agreement will be signed for a ten-year period, with possibility to extend it, and will replace the document signed on 14 February 1994.  

The need to renew the bilateral relations in the sector of mutual promotion and protection of investments appeared simultaneously with the signing of the bilateral Free Trade Agreement in 2014, as well for deepening the trade ties between the two states. 

Over 1,000 Moldova-Turkish companies are recorded in Moldova, according to official data.

(Editor L. Alcaza)