Moldova, Canada to cooperate for mutual protection of investments

Chisinau, 22 August /MOLDPRES/- Moldova and Canada will cooperate to protect each other's investments. The law on ratification of the Agreement to this effect, signed between the governments of the two states, and the presidential decree on its promulgation will be published in the Official Journal of Moldova on 23 August.

The agreement between the Government of the Republic of Moldova and the Government of Canada on the mutual promotion and protection of investments was signed on June 12, 2018, in Ottawa. It shall enter into force upon receipt of notifications by both parties concerning the completion of the internal procedures necessary for this purpose. It act will remain in force for 15 years.

The document stipulates the conditions for mutual promotion and protection of investments and dispute settlement procedures.

The agreement aims to consolidate mutually advantageous economic and investment relations, to create conditions for the investment activity of economic agents in both countries and to regulate the commercial-economic relations.

So far, no economic treaties or similar treaties have been concluded with the Canadian side.