Signing of Bilateral Investment Promotion and Protection Agreement between India and Macedonia (March 17, 2008)

Macedonian Finance Minister H.E Trajko Slaveski and Indian Ambassador to Macedonia H.E Lal Dingliana signed the Bilateral Investment Promotion and Protection Agreement between India and Macedonia on March 17, 2008 in Skopje, Macedonia.

The agreement is part of the efforts and activities for enhancement of cooperation between both the countries, aimed at attracting foreign investments and legal protection of investments from one to another country. According to the agreement provisions, the two contracting parties are obliged to allocate treatment that is not less favorable than the one given to country's investors. The agreement also regulates the manner of resolving disputes between an investor and a contracting party, or between the two contracting parties. The agreement is valid for ten years, and beyond, unless one contracting party notifies the other of its intention for annulment.

Sofia,
March 17, 2008