Minister Lehtomäki signed the new investment protection agreement between Finland and Kazakhstan

Press release 10/2007
11 January, 2007

In Astana on Tuesday, 9 January, Paula Lehtomäki, Minister for Foreign Trade and Development, signed the new agreement on the promotion and reciprocal protection of investments concluded between Finland and Kazakhstan. The agreement was signed on behalf of Kazakhstan by Vladimir Sergeevich Shkolnik, Minister of Industry and Trade.

When it comes into force, the agreement will replace the agreement concluded in 1998.

The new agreement takes into account today’s central principles in the treatment and protection of foreign investments. From the perspective of promoting Finnish investments and utilising Kazakhstan’s economic potential, the new agreement is a notable improvement over the old agreement.

It’s particularly important that the agreement guarantees that Finnish investments in Kazakhstan receive treatment that is at least equally good as that of investors, and investments, from Kazakhstan or other countries.

While the agreement reflects efforts to promote Finnish investments in Kazakhstan, it is also hoped that it will increase the interest of investors from Kazakhstan towards the investment possibilities offered by Finland.

There are now 52 agreements on promotion and protection of investments in force betweenFinland and other nations. Among the countries of Central Asia, agreements are in force or negotiations have been concluded with Armenia, Azerbaijan, Georgia, Kyrgyzstan, Moldova, Turkmenistan and Uzbekistan.

Additional information: Kimmo Sinivuori,Commercial Counsellor, Ministry for Foreign Affairs, tel. +358 9 160 56167