State Duma Ratified Treaty between Russia and Armenia on Mutual Protection of Capital Investments

PanARMENIAN.Net - Today Russian State Duma ratified the Treaty on encouragement and mutual protection of capital investments signed between Russia and Armenia September 15, 2001. 419 deputies supported the document unanimously. The treaty stipulates the basic principles, conditions and order of admission of capital investments from investors of one country to the territory of the other, providing each of the parties an equal regime with national investors.



Russia and Armenia commit themselves not to admit forced requisitioning of foreign capital investments in the form of expropriation and nationalization, guarantee unrestricted transfer of foreign investors' sums that are the outcome of their activities. Investment disputes are provided to be considered between the investor and the state in international arbitration.



According to Director of the Department of Trade Negotiations of the Ministry of Economic Development and Trade Maxim Medvedkov, over 600 enterprises with Russian capital participation are registered on the territory of Armenia. Within 2004 the volume of Russian investments to the economy of Armenia made $67 million (including $49 million direct investment), reported Rosbalt.