Countries & Regions
Signing of the Japan-Mozambique Investment Agreement
June 1, 2013
- On Saturday, June 1, H.E. Mr. Fumio Kishida, Minister for Foreign Affairs of Japan, and H.E. Mr. Aiuba Cuereneia, Minister of Planning and Development of the Republic of Mozambique, signed the Agreement between Japan and the Republic of Mozambique on the Reciprocal Liberalisation, Promotion and Protection of Investment (hereinafter referred to as "the Agreement") in Yokohama, where the TICAD V (Fifth Tokyo International Conference on African Development) commenced on the same day.
- With a view to striving for the liberalisation, protection and promotion of investment between Japan and the Republic of Mozambique, the Agreement stipulates treatments accorded to an investor of a Contracting Party who makes investments in the other Contracting Party, such as national treatment, most-favored-nation treatment, free transfers, conditions for expropriation and compensation, and the procedures of dispute settlements. This Agreement is the first investment agreement Japan has ever signed with a country in Sub- Saharan Africa.
- Mozambique, where the world's largest natural gas reserve and the Africa’s largest coking coal reserves have been confirmed in recent years, is now attracting attention as a resource-rich country whose development Japanese private companies are participating in. The Agreement is expected to contribute to creation of a favorable environment for investors by improving legal stability, and thereby further promoting the Japan-Mozambique economic relationship. Also, the conclusion of this Agreement is significant as one of the specific measures for the promotion of Japanese private investment to Africa, which is a priority agenda in the TICAD V.
- The Agreement will enter into force on the thirtieth day after the date of exchange of diplomatic notes between the Governments of the Contracting Parties informing each other that their respective legal procedures necessary for the entry into force of this Agreement have been completed (in case of Japan, the approval of the National Diet will be required for the entry into force).
* The foregoing is a provisional translation. The date indicated above denotes the date of issue of the original press release in Japanese.