Russia, China to sign new investment protection agreement
MOSCOW, April 23. /TASS/. Russian Prime Minister Mikhail Mishustin has approved a draft of agreement between Russia and China for promotion and mutual protection of investment.
"To approve <…> the draft of agreement preliminarily developed with the Chinese side, to task the Russian Economic Development Ministry with signing the mentioned agreement on behalf of the Russian government upon reaching an agreement with the Chinese side <…>," according to a government decree. Moscow and Beijing will also share letters, "which contain understanding between the Russian government and the Chinese government on the issue of application of measures, the introduction of which is regulated by WTO norms on exclusions on national security, general exclusions, as well as prudential measures," according to the document.
The new agreement after its signing will replace a similar one that was enforced in 2006. According to the draft, each of the sides "seeks to create favorable conditions for investors of the other side of the agreement for investing on its territory" and ensures "full protection on its territory of investment and investors’ revenues of the other side of the agreement.".
