Federation Council ratifies investment agreements.

14/7 Tass 92


MOSCOW , July 14 (Itar-Tass) -- Russia's Federation Council ratified
on Wednesday an agreement on the encouragement and mutual protection of
investments in the EurAsEC member-countries. It was signed in Moscow on
December 12, 2008.
According to the agreement, each side should provide "favourable
conditions, just and equal regimen for investments and revenues of
investors, including unimpeded transfer of monetary funds after the
payment of all taxes stipulated by the law."
At the same time, the sides keep the right to use and introduce
exceptions from the regimen, if they are not discriminative, according to
local legislations.
The document provides guarantees to protect investments and investors'
revenues "from forced confiscation - nationalisation, expropriation or any
other measures, and gives the right to investors to get quick, adequate
and effective compensations, should their investments and revenues be
damaged." The agreement dwells upon the compensatory settlement of damage
in wars, civil disorders and actions alike.
Russia's Federation Council also ratified on Friday an agreement
between the governments of Russia and Turkmenistan on the encouragement
and mutual protection of investments. The document was inked on March 25,
2009 in Moscow.
According to the agreement, each side secures for the investments and
investors' revenues a regimen "not less favourable than that for
investments and investors' revenues inside the country or from any third
country." The document provides guarantees to protect investments and
investors' revenues "from forced confiscation - nationalisation,
expropriation or any other measures, and gives the right to investors to
get compensations should their investments and revenues be damaged."
Russia's Ministry of Economic Development reports that 147 subjects of
economic activity involving Russia's capital work presently in
Turkmenistan, Russian and Turkmen experts work jointly on 127 projects in
Turkmenistan's various sectors of the economy. Investment cooperation in
fuel and energy sector and transport infrastructures is an important
sphere of economic cooperation between the two countries.

-0-kar/kud


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