Posted: 17.04.2024 17:30:16

Belarus, Equatorial Guinea strengthen mutual investment protection guarantees

The draft law of the Republic of Belarus ratifying the investment promotion and protection agreement between the Government of the Republic of Belarus and the Government of the Republic of Equatorial Guinea was adopted at first reading at the meeting of the first session of the House of Representatives of the National Assembly of the eighth convocation

The draft law was submitted to the House of Representatives by the Council of Ministers on March 20th, 2024. It was prepared in order to express the consent of the Republic of Belarus to be bound by the agreement between the governments of Belarus and Equatorial Guinea on the promotion and mutual protection of investments, signed on December 9th, 2023, in Malabo, based on Presidential Decree No. 378 On the Draft International Treaty dated November 28th, 2023.

The agreement is aimed at creating a legal basis for bilateral relations in investment co-operation, strengthening guarantees for the protection of capital investments. The ratification of the agreement will allow the use of effective mechanisms to protect Belarusian investors in the Republic of Equatorial Guinea, which will contribute to the development of trade and economic co-operation. 

In particular, the agreement provides for the following: creation of favourable conditions for making investments, provision of investors with treatment in accordance with the minimum standard of treatment of foreigners under international law, including fair and equal treatment, full protection and safeguarding, protection against forced seizure of property equivalent in effect to expropriation or nationalisation, and the possibility of recourse to an international arbitration tribunal to protect their rights and interests.