Georgia, Canada hold negotiations on draft Foreign Investment Promotion and Protection Agreement

The seventh round of negotiations on the draft Foreign Investment Promotion and Protection Agreement was held between Georgia and Canada in Georgia’s capital Tbilisi, the Economy Ministry said on Wednesday.

The main negotiator from the Georgian side, Deputy Economy Minister Genadi Arveladze said the signing of the agreement would contribute to increasing investments from Canada and encouraging Canadian investors to enhance their existing investments.

Canada is an important economic partner and investor country for Georgia”, Arveladze stressed.

Representatives of the Georgian Economy, Justice and Foreign Affairs, as well as Finance ministries also participated in the negotiating process. Photo via Economy Ministry

The draft includes the mechanisms of protection of investments and investors in case of disputes arising between the parties and the ways of solving them, which is important for the development of investment activities between the sides.

The Canadian side offered Georgia to consider a new model project of the FIPA in 2018, after which six official rounds of negotiations were held between the parties in Ottawa and Tbilisi.

The eighth round of negotiations between the two states is planned for the second half of the year.