Agreement on protection of investment between Uzbekistan and Turkey enters into force

On July 9, an intergovernmental agreement on mutual promotion and protection of investments entered into force, which was signed during the visit of the President of Uzbekistan to Turkey on October 25, 2017.

Photo: KUN.UZ

According to the provisions of the document, the most-favored-nation treatment is applied to investments made by investors of the two countries, the MFA reports.

The agreement defines the legal basis for protecting the rights of investors, facilitating the flow of capital and technology, as well as free money transfers.

The document is intended to replace the previous intergovernmental agreement of April 28, 1992, and is aimed at improving the procedure for mutual promotion and protection of investments, taking into account modern realities.

The agreement creates the basis for the inflow of mutual investments in the economy of the two states. It also increases the investment attractiveness of both countries for potential foreign investors.