Signing of the Agreement between the Government of Japan and the Government of the Russian Federation concerning the Promotion and Protection of Investments
November 13, 1998
- Signing of the Agreement between the Government of Japan and the Government of the Russian Federation concerning the Promotion and Protection of Investments took place on November 13 (Fri.) in Moscow (the Prime Minister's Administration) between Mr. Takehiro Togou, Japanese Ambassador to Russia, and Mr. Andrei Georgievich Shapovali'yants, Russian Minister for Economics, in the presence of Japanese Prime Minister Keizo Obuchi, who is now visiting Russia, and Russian Prime Minister Sergei Primakov.
- This Agreement contains comprehensive and detailed stipulations for the promotion and protection of investments to prepare a framework of an environment for investments.
Concretely, like the other investment agreements concerning the Promotion And Protection of Investments Japan has concluded with other countries, the Agreement stipulates most-favored nation treatment regarding the admission of investments, returns and business activities in connection with the investments, national treatment and most-favored-nation treatment regarding access to the courts, etc.; measures to be taken when expropriation and other measures are taken or when any losses are incurred because of the outbreak of hostilities; subrogation to claims based on investment guarantee; the free transfers in connection with investment; submission of disputes in connection with the investments to arbitration, and consultations between the two countries. Furthermore, in light of the international trend in the improvement of conditions for investment and the present situation of conditions for investment in Russia, such new rules as transparency and ban on trade-related investment measures, which do not exist in Japan's former agreements, have been added to its content, making it extremely important for Japanese investors to Russia.
- The conclusion of this Agreement is expected to contribute to the expansion of investment and closer economic relations between the two countries through the improvement of the conditions for investment.
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