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Agreement between Iraq and the UAE on the protection and promotion of investment
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Today, Tuesday, the United Arab Emirates signed an agreement with Iraq to protect and encourage investment.
The agreement aims to stimulate foreign investment by protecting economic cooperation between the two countries, providing and developing an appropriate climate for investment, and ensuring a comprehensive balance between obligations and rights between investors and the host country, in a way that stimulates business initiatives for sustainable economic development, according to the Emirates News Agency (WAM).
The agreement, which was signed at the headquarters of the Ministry of Finance in the Emirate of Abu Dhabi, was attended from the UAE side by the Undersecretary of the Ministry of Finance, Younis Haji Al-Khoury, and from the Iraqi side, the head of the National Investment Authority, Suha Al-Najjar, along with a number of prominent officials from the two countries.
The terms of the agreement stipulate facilitating allowing the establishment of mutual investments and granting licenses for these investments, and protecting the investments of both sides from all non-commercial risks, such as nationalization, confiscation, judicial seizure and freezing.
The agreement, which was signed at the headquarters of the Ministry of Finance in the Emirate of Abu Dhabi, was attended from the UAE side by the Undersecretary of the Ministry of Finance, Younis Haji Al-Khoury, and from the Iraqi side, the head of the National Investment Authority, Suha Al-Najjar, along with a number of prominent officials from the two countries.
The terms of the agreement stipulate facilitating allowing the establishment of mutual investments and granting licenses for these investments, and protecting the investments of both sides from all non-commercial risks, such as nationalization, confiscation, judicial seizure and freezing.
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