Africa-Press – Angola. Angola and China signed, in Beijing, a legal instrument for the Promotion and Reciprocal Protection of Investments (APPRI), within the scope of strengthening bilateral cooperation.
The Agreement on the Promotion and Reciprocal Protection of Investments (APPRI) was signed between the head of Angolan diplomacy, Téte António, and the Chinese Minister of Commerce, Wang Wentao.
The legal instrument aims to promote greater economic cooperation, stimulate the flow of capital and economic development, in addition to ensuring a stable, transparent and non-discriminatory framework for investment between Angola and China.
It recognizes the importance of providing effective means and procedures to protect investment rights and interests under national legislation, as well as through international arbitration to ensure stability and confidence between investors in the two countries.
APPRIs are bilateral agreements that aim to demonstrate to international investors the existence of a legal and security mechanism for carrying out their investments.
Angola has agreements in this area, on the African continent, with South Africa, Guinea-Bissau and Cape Verde, in Asia, with Qatar, and in Europe, with Portugal, Spain, Germany, United Kingdom, Italy, Russia and France.
The architecture of next generation APPRIs must understand the limited definition of the investment, clearly defining the assets that must be protected.
Clarification of provisions such as indirect expropriation, fair and most favored nation treatment, as well as the settlement of investor versus state disputes, transparency in arbitration procedures, open sessions, publication of documents and the public participation of civil society are normally part of the agreements.
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