Bishkek, Apr. 10, 2018. / Kabar /. Within the framework of the official visit of President of Kyrgyzstan Sooronbay Jeenbekov to Turkey, Minister of Economy of Kyrgyzstan Artem Novikov and Minister of Economy of Turkey Nihat Zeybekci signed in Ankara, on Apr. 10, 2018, a bilateral Agreement on mutual encouragement and protection of investments between the Kyrgyz Republic and the Republic of Turkey, the press service of the Ministry of Economy of the Kyrgyz Republic reported.
The main goal of the Agreement is to promote the strengthening of economic cooperation between the countries, the creation of a regulatory legal framework for attracting direct investment, the provision of a stable, fair and equitable treatment of investments, facilitating the flow of capital and technology, and economic development of the contracting parties.
This Agreement replaces the current Agreement on mutual promotion and protection of investments dated Apr. 29, 1992, and is aimed at harmonizing with standards of bilateral agreements of a new generation, including compliance with environmental standards, ensuring working conditions, as well as maintaining a balanced responsibility between the state and the investor.