Baku, Azerbaijan, July 24
By Tamilla Mammadova – Trend:
The investment agreement between Georgia and Canada will stimulate entrepreneurial initiatives and free movement of private capital, will contribute to the economic development of the parties and the effective use of economic resources, said Gennadi Arveladze, Deputy Minister of Economy and Sustainable Development of Georgia, Trend reports with reference to the website of the Ministry of Economy and Sustainable Development of Georgia.
He made the remarks during negotiations on the Agreement between Georgia and Canada in Ottawa.
According to Arveladze, this agreement will be the first economic document between Georgia and Canada and will assist both Georgian and Canadian investors.
The provisions of this Agreement include mechanisms for the protection of investments and investors in the event of a dispute between the parties, ways of resolving them, which is an important prerequisite for the development of investment activities between the parties.
In March 2018, Canada proposed Georgia to discuss a new model of the Agreement “On the Promotion and Protection of Investments between Canada and Georgia”. After successful preliminary negotiations the first official round of negotiations between the parties in Ottawa in August, 2018 and the second round in Tbilisi on January 21-22, 2019 took place.
