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State Duma ratified agreements with Abkhazia and South Ossetia2010-11-29 17:58
State Duma ratified agreements on investments protection and encouragement with Abkhazia and South Ossetia, Itar-Tass reports.gt-en-newsitem-inside
As was stressed at the meeting, the documents are aimed at creating internationally accepted conditions and guarantees for business activity of Russian investors and those from Abkhazia and South Ossetia.
The agreements provide for ensuring a fair and equal regime of investments implying prevention of discrimination measures and creating equal conditions with national or third country investors.
Besides, the parties retain the right to apply and introduce withdrawals from national regime in respect of foreign investors and their capital expenditures.
According to Deputy Minister of Economic Development of RF Igor Manylov, both agreements are typical but have got a number of differences of "non-essential nature".
For instance, it is stated that the documents are applied to all investments made since 1 January 1994. "The application of agreements will ensure investors' long-term stability and legal environment predictability and will encourage the investment, trade and economic relationship between Russia and Abkhazia, as well as South Ossetia", - he summed up.