Signing of the Japan-Oman Investment Agreement
June 19, 2015
1. On June 19, 2015, the Agreement between Japan and the Sultanate of Oman for the Reciprocal Promotion and Protection of Investment (the Japan-Oman Investment Agreement) was signed by H.E. Mr. Yasuhide Nakayama, State Minister for Foreign Affairs of Japan, and H.E. Mr. Khalid Al-Muslahi, Ambassador of the Sultanate of Oman to Japan, in Tokyo.
2. This Agreement aims at further protection and promotion of investment between the Contracting Parties. The Agreement stipulates the treatments accorded to investment activities and investments when an investor (an enterprise etc.) of a Contracting Party invests in the other Contracting Party, such as national treatment, most-favoured-nation treatment, fair and equitable treatment, observance of undertaking, free transfers requirements, conditions for expropriation and compensation and procedures for dispute settlements.
3. Interest for investing in Oman has been rising among Japanese companies, given its rich reserves of oil and natural gas and ongoing large-scale infrastructure projects in the Sultanate. It is expected that this Agreement, which improves legal stability of investment, will contribute to promotion of the reciprocal investment and human exchanges, and to further development of the economic relationship between the two countries.
4. This Agreement will enter into force on the thirtieth day after the date of exchange of diplomatic notes informing each other that their legal procedures necessary for the entry into force of this Agreement (in case of Japan, the Diet approval will be required) have been completed.