 التاريخ : 6 Date: April 6, 2010 نيسان 2010 |
التاريخ : 6 نيسان 2010 Date: April 6, 2010
Skinner: Permit the Minister of Finance to negotiate and sign a draft agreement to promote and protect investment between Iraq and the United Arab Emirates
Announced the government spokesman Ali al-Dabbagh said the Cabinet decided to approve to authorize the Minister of Finance to negotiate and sign a draft agreement to encourage and protect investments between the Government of the Republic of Iraq and the United Arab Emirates According to the provisions of Article (80 / item VI) of the Constitution.
Dabbagh said that the approval to authorize the Minister of Finance to negotiate and sign a draft agreement to encourage and protect investments between the Government of Iraq and the Government of the United Arab Emirates is the interest of the Iraqi government to activate its relations with brotherly and friendly countries to attract investments to Iraq and the formation of working partnerships with those countries and to overcome difficulties that impede the advancement of investment in Iraq and to encourage investors and guarantees for their investments in the formulas and legal frameworks which beneficial joint initiatives and stimulate trade between the two governments.
Dabbagh said that the Ministry of Finance has requested approval of the draft agreement, which was presented by the Ministry of the State Council for verification and to give legal advice about it and explained the State Consultative Council that the draft agreement does not conflict with the Constitution and legislation in force relevant and that it serve as a basis for negotiation in preparation for the conclusion according to the formula corrected and audited as stipulated by the Convention to exercise authority under the laws of the contracting parties to allow and encourage the creation of conditions appropriate for both parties for investors and the contracting parties the right to protect investments and treat it just means it deems appropriate
Does not impose any Contracting Party mandatory measures to investors of the other party for the purchase of materials and means of production, processing and transportation and marketing of products both internally and externally and when granting leave to invest according to the Investment Law of the National Contracting Party, the parties must contract the employment of workers, technicians and administrators in the investment project.
Dabbagh said the agreement includes not subject to investment project of the Contracting Parties to seizure or confiscation, nationalization, in whole or in part except as issued with a court ruling now and when the nationalization or expropriation of investment project or liquidation of the legal person, the founder and the other party contracted quotas or shares For the first Contracting Party pay compensation according to market value, taking into account depreciation of capital investment and other factors related to the project investment was guaranteed by each Contracting Party within the framework of legislation to investors of the other Contracting Party free transfer to and from the territory of payments related to investments, especially input and output of capital after payment of any obligations and debts of the points designated as well as revenues and profits and revenues resulting from the sale total or partial as well as ensuring payments resulting from the settlement of disputes by agreement between the parties
And settles disputes between the contracting parties under this agreement through diplomatic channels and if it is not settled within (6) months from the date of the request for negotiations constitute a joint committee of businessmen from both the contracting parties for that purpose and the contracting parties to deprive the investment projects the benefits provided for in this Convention or in case the lack of activities with the other Contracting Party.
Finished