Signing of the Japan-Armenia Investment Agreement
1. On February 14 (same day local time), H.E. Mr. Eiji Taguchi, Ambassador of Japan to the Republic of Armenia, and H.E. Mr. Edward Nalbandian, Minister of Foreign Affairs of the Republic of Armenia, signed the “Agreement between Japan and the Republic of Armenia for the Liberalisation, Promotion and Protection of Investment” (Japan-Armenia Investment Agreement) in Yerevan, the capital of the Republic of Armenia.
2. This Agreement aims at further liberalization, promotion and protection of investment between the Contracting Parties. It 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 at both of the pre-establishment and post-establishment phases of investments, fair and equitable treatment, prohibition of performance requirements, conditions for expropriation and compensation, freedom of transfers, and procedures for dispute settlements.
3. Armenia has rich human resources in the area of information technology and it is actively introducing preferential treatments for foreign-owned enterprises and establishing relevant legal scheme. Accordingly Japanese companies’ interests in Armenia are increasing, and investment in Armenia is expected to be expanded furthermore. This Agreement is expected to ensure free and stable corporate activities of Japanese enterprises operating in Armenia as well as to contribute to further development of economic relations between the two countries.
4. The Contracting Parties will notify each other, through diplomatic channels, of the completion of their respective internal procedures necessary for the entry into force of this Agreement (in case of Japan, the approval of the National Diet will be required). This Agreement will enter into force on the thirtieth day after the latter of the dates of receipt of the notifications.