Moldova ratifies agreement with Turkey on mutual protection of investments

Chisinau, 14 June /MOLDPRES/- The promulgation decree and the law for ratification of the Agreement between the Government of the Republic of Moldova and the Government of the Republic of Turkey on the mutual promotion and protection of investments will be published the Official Journal of Moldova on 15 June.

The document was signed in Istanbul on 16 December 2016 and aims to promote and protect investment, and to establish basic legal principles to strengthen friendly relations between the two countries. At the same time, following the signing of the Free Trade Agreement between the two countries on 11 September 2014, both sides agreed to renew the Agreement on Mutual Investment Promotion signed in 1994, stating that it should meet current requirements.

Thus, the entry into force of the new agreement will replace the Agreement between the Republic of Moldova and the Republic of Turkey on the promotion and mutual protection of investments, signed in Ankara on 14 February 1994.

The document comprises 14 articles and is supplemented by provisions regulating the conditions for mutual promotion and protection of investments, the way to regulate the disputes and the terms of entry into force, modification and denunciation of the international legal instrument, etc.

The agreement is for a period of ten years and will enter into force on the date of the last notification on the completion of all necessary internal procedures.

(Reporter A. Zara, editor A. Răileanu)