Riigikogu discussed promotion and protection of investments
The Riigikogu concluded the first reading of two Bills:
The Bill on Ratification of Agreements for the Promotion and Reciprocal Protection of Investments (87 SE), initiated by the Government, ratifying three agreements for the promotion and reciprocal protection of investments. These are the agreements between Estonia and the United Arab Emirates, Estonia and Kazakhstan, and Estonia and Vietnam. The aim of the documents is to create a favourable investment climate and ensure equal treatment of investors of both Contracting Parties. For the achievement of the goal, the Agreement determines the requirements for the activities related to investment (free transfer of payments, non-discrimination of investments, assignment of rights in event of a guarantee), creates the procedure for the settlement of disputes and regulates the expropriation of investments and the payment of the accompanying compensation. The agreements create favourable conditions for investors because they guarantee their rights and freedom of action in the states of both Contracting Parties and oblige the Contracting Parties to ensure full protection and security of investments.
The Strategic Goods Bill (96 SE), initiated by the Government, transposes the relevant European Union directive. Its aim is to simplify terms and conditions of transfers of defence-related products within the European Union in order to facilitate the proper functioning of the internal market in defence equipment and the development of a European defence technological and industrial base. The Bill provides the requirements for transfer of strategic goods, provision of services relating to strategic goods, supervision of import and end-use of strategic goods as well as the bases for exercising supervision in all these fields.
The Riigikogu Press Service
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