BC, Vilnius — On February 25th, Lithuania and Qatar entered the second stage of negotiations on Bilateral Investment Promotion and Protection Agreement. The two-day negotiations take place in Vilnius, reports LETA/ELTA.
Lithuania’s negotiation delegation is headed by Sigute Jakstonyte, Director of the Law and International Treaties Department of the Foreign Affairs Ministry. Meanwhile Qatar’s delegation is headed by Khaled Yousef Alderbesti, Director of the Investment Promotion Department at the Ministry of Economy and Commerce.
The sides will discuss the main provisions of the investment promotion agreement that are aimed at creating favourable conditions for businesspeople from one party to the agreement in the territory of another party.
Currently investment conditions in Lithuania and Qatar, as well as the rights of investors and investment protection measures are established by the national law of the two countries.
The agreement would encourage investments by Lithuania’s and Qatar’s business entities and they would be granted international legal protection guarantees. The bilateral agreement would establish the highest protection standards for investments and investors that meet the EU’s investment policy. The agreement will provide a more solid legal base for the already ongoing economic cooperation between Lithuania and Qatar.