Foreign Minister Erkki Tuomioja signs agreement on promotion and protection of investments between Finland and Guatemala
12 April, 2005
Foreign Minister Erkki Tuomioja signed an agreement between Finland and Guatemala on the promotion and protection of investments at an event held in Helsinki on 12 April. Signing on behalf of Guatemala was Jorge Briz Abularach, the country’s Minister of Foreign Affairs.
It was agreed to begin negotiations in conjunction with President Tarja Halonen’s visit to Guatemala in June 2004, and the actual negotiations were started in Guatemala in September 2004.
With this new agreement, Finland strives to ensure the operating conditions of Finnish enterprises in Guatemala. The agreement guarantees that Finnish investments are treated impartially with regard to both domestic investments and investments from third countries, and furthers the stability and predictability of the investment environment. In addition to the promotion and protection of Finnish investments, the objective is to have a positive influence on Guatemala’s economic development, to foster respect for international labour norms in Guatemala, and to enhance social conditions and environment protection in the country.
There are now 50 agreements on promotion and protection of investments in force between Finland and other nations. Of the Latin American countries, agreements are in force or negotiations have been concluded with Argentina, Brazil, Chile, Costa Rica, the Dominican Republic, Ecuador, El Salvador, Mexico, Nicaragua and Uruguay.
Additional information: Commercial Counsellor Kimmo Sinivuori, tel. +358 9 1605 6167, e-mail: [email protected] ; and Press Attaché Anna Tonttila, tel. +358 9 1605 5356, e-mail: [email protected], Ministry for Foreign Affairs of Finland.