17
FRIDAY, MAY 27, 1994
HK AND SWEDEN SIGN INVESTMENT PROMOTION
AND PROTECTION AGREEMENT
AN AGREEMENT ON THE PROMOTION WAS SIGNED BETWEEN HONG KONG AND SWEDEN TODAY (FRIDAY).
AND PROTECTION OF INVESTMENTS
J
MR MIKAEL
THE SECRETARY FOR OF THE HONG KONG WESTERLIND, ON
KONG BY THE AGREEMENT WAS SIGNED IN HONG
INDUSTRY,
CHAU, ON BEHALF TRADE AND GOVERNMENT, AND THE SWEDISH CONSUL-GENERAL, BEHALF OF THE GOVERNMENT OF THE KINGDOM OF SWEDEN,
HONG KONG HAS SIGNED IN THIS OTHER PROMOTION AND PROTECTION,
THIS IS THE FOURTH AGREEMENT IMPORTANT AREA OF INVESTMENT AGREEMENTS HAVE BEEN MADE WITH THE NETHERLANDS, AUSTRALIA AND DENMARK.
AGREEMENTS ARE
BILATERAL AGREEMENTS
UNDER RECIPROCAL PARTY IN THE
SUCH
BINDING INTERNATIONAL LAW WHICH AIM TO ENCOURAGE AND PROTECT, ON A BASIS INVESTMENTS BY INVESTORS OF ONE OTHER'S AREA.
+
CONTRACTING
SAID THE AGREEMENT SPEAKING AT THE SIGNING CEREMONY, MR CHAU
EXCELLENT
TIES ECONOMIC WOULD FURTHER STRENGTHEN THE
HONG
KONG AND SWEDEN.
BETWEEN
"THE AGREEMENT
TREATMENT, THE UNRESTRICTED RIGHT ΤΟ RETURNS, AND PROPER COMPENSATION IN EXPROPRIATION."
PROVIDES INVESTORS
WITH GUARANTEES OF FAIR AND TRANSFER INVESTMENTS THE EVENT OF LOSSES OWING TO
DISPUTES TO BE SETTLED
IN
11
MR WESTERLIND
ΤΟ POINTED
"IT ALSO PROVIDES FOR INVESTMENT ACCORDANCE WITH LAID-DOWN PROCEDURES.
THE
AT THE CEREMONY, ALSO SPEAKING SOPHISTICATED ECONOMIES AND OPEN MARKETS OF BOTH SWEDEN AND HONG KONG.
THE
EVEN THOUGH SECURE PROPERTY RIGHTS ARE ALREADY EMBODIED IN LEGAL FRAMEWORKS OF THE TWO SOCIETIES, MR WESTERLIND DREW THE ENHANCE BUSINESS INITIATIVES ATTENTION TO THE AGREEMENT AS A WAY TO
AS WELL AS BEING A
AND TO FOSTER BILATERAL ECONOMIC CO-OPERATION, LANDMARK OF THE FRIENDLY TIES BETWEEN SWEDEN AND HONG KONG.
AND
DAYS AFTER THE AGREEMENT WILL ENTER INTO FORCE 30
REMAIN EFFECTIVE FOR HILL
AN INITIAL PERIOD OF INDEFINITELY, UNLESS THEREAFTER, IT WILL REMAIN IN FORCE BY EITHER PARTY BY GIVING ONE YEAR'S WRITTEN NOTICE.
SIGNATURE, 15 YEARS. TERMINATED
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