Switzerland has concluded an agreement with Syria on the promotion and mutual
protection of investments. State Secretary Jean-Daniel Gerber and Amer Lutfi,
the minister of economy and trade of the Syrian Arab Republic, signed the agreement
in Damascus on 9 May 2007.
The investment protection agreement is intended to improve the legal status of
investors from Switzerland and Syria and create a more favourable climate for
investment. The most important provisions concern the treatment of foreign investment
by the host country, the transfer of capital and revenues, compensation in the
event of expropriation and the settlement of disputes.
The agreement replaces one of a similar kind dating from 1977, which no longer meets today's requirements, particularly in terms of access to international arbitration.
The new agreement forms part of Syria's ongoing efforts to make the country more attractive to foreign investment. For Switzerland, the agreement is an extension of its existing network of bilateral investment promotion agreements which covers around 120 countries.
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