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Azerbaijani parliament ratified agreement with Russia on investments protection

Under the agreement, the parties should accept and ensure full protection of each other's investments

Baku. 16 December. REPORT.AZ/ Milli Majlis (the National Assembly) in today's meeting has been approved the agreement between Azerbaijani and Russian governments on the promotion and reciprocal protection of investments.

"Report" informs, according to the agreement, which provides information about the Parliament's Committee on Economic Policy Ziyad said that the project is for the protection and promotion of investments between the two countries, will stimulate the flow of capital, mutually beneficial economic and trade relations and the development of science and technology, the two countries will contribute to the creation of business initiatives.

Under the agreement, each of the parties consent of investors to carry out investments in its territory and in an effort to create favorable conditions for such investment is made in accordance with legislation that provides complete protection of investments.

According to the document, one of the parties, suffering a loss as a result of civil unrest or other similar situation the other party applies with respect to restitution, satisfaction, compensation or any other settlement regime and it follows that State in respect of loss concerning its own investors or investors of third countries will not be less favorable than those of the regime.

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