The Council of the Republic at the meeting of the first session of the Council of the Republic of the National Assembly of the Republic of Belarus of the eighth convocation approved the draft law "On ratification of the Agreement between the Government of the Republic of Belarus and the Government of the Republic of Equatorial Guinea on promotion and mutual protection of investments," BELTA reports.
The agreement, signed on December 9, 2023 in Malabo, is aimed at creating a legal framework for bilateral relations in the field of investment cooperation, strengthening the guarantee of investment protection. In particular, the agreement provides for the creation of favorable conditions for making investments; providing investors with treatment in accordance with the minimum standard of treatment of foreigners provided for by international law, including fair and equal treatment, full protection and safeguarding; protection from forced seizure of property, equivalent in consequences to expropriation or nationalization; the possibility of appealing to the international arbitration court to protect their rights and interests.
Ratification of the agreement will make it possible to use effective mechanisms for the protection of Belarusian investors in the Republic of Equatorial Guinea, which will contribute to the development of trade and economic cooperation.
