Ukraine intends to sign an intergovernmental agreement with Turkey on mutual assistance and investment protection. Such draft agreement was approved at a government meeting.
First Vice Prime Minister and Minister of Economic Development and Trade Stepan Kubiv is authorized to sign the agreement.
According to the press service of Ukraine’s Cabinet of Ministers, the draft agreement provides investors with guarantees of protection against illegal confiscation or nationalization of assets, the right to freely transfer payments abroad, and determine the procedure for resolving litigation between investors and governments of both countries in accordance with international law.
The document is intended to replace the current agreement on investment protection of November 27, 1996.
As it was reported earlier President of Ukraine Petro Poroshenko and President of Turkey Recep Tayyip Erdogan discussed the preparations for the sixth session of the Strategic Council of the high level between Ukraine and Turkey that should take place in Kyiv.