Signing of the Japan-Georgia Investment Agreement
On January 29 (same day local time), H.E. Mr. IMAMURA Akira, Ambassador Extraordinary and Plenipotentiary of Japan to Georgia, and H.E. Ms. Natela TURNAVA, Minister of Economy and Sustainable Development of Georgia, signed the “Agreement between Japan and Georgia for the Liberalisation, Promotion and Protection of Investment” (Japan-Georgia Investment Agreement) (English (PDF) / Annex (English) (PDF) / Japanese (PDF) / Annex (Japanese (PDF) ) in Tbilisi, Georgia.
- 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 (e.g. an enterprise) of a Contracting Party invests in the other Contracting Party: national treatment and most-favoured-nation treatment at pre-establishment and at post-establishment phases of investments; fair and equitable treatment; prohibition of performance requirements; conditions for expropriation and compensation; freedom of transfers; procedures for dispute settlements.
- Facing the Black Sea, Georgia is located in a significant location connecting Asia and Europe, and in recent years has been promoting economic and infrastructure policies aimed at becoming a regional logistics hub. Georgia is actively working to attract foreign investments and its favorable business climate is highly evaluated. Japanese companies are becoming more interested in Georgia and it is expected that their investments in Georgia will continue to grow. This Agreement is expected to ensure free and stable business activities of Japanese companies operating in Georgia as well as to contribute to further development of economic relations between the two countries.
- 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 National Diet will be required). This Agreement will enter into force on the 30th day after the latter of the dates of receipt of the notifications.