Kuwait, Mexico sign agreement to boost investments
Saturday, 23 February 2013
MEXICO CITY: Kuwait and Mexico have signed an agreement for boosting and protecting investments as part of an approach for expanding bilateral trade relations between the two countries.
According to Kuwait News Agency (KUNA), the agreement aims at stimulating and protecting investments, luring Kuwaiti and Mexican companies to launch business in the two countries and drawing up economic partnership between the private and public sectors of Mexico and Kuwait.
In some of its parts, it stipulates encouraging and protecting all types of assets, rights, properties such as rents, mortgages, companies, stocks, bonds, financial loans and intellectual rights. It addresses various topics and legal aspects, such as issuance of permits for Kuwaiti entrepreneurs, facilitating launch of Kuwaiti businesses, protection of such enterprises against eventual protective measures, namely nationalization and expropriation. In such eventualities, it ensures full compensation for any damage incurred by the Kuwaiti investors.
In other sections, it tackles methods of resolving disputes by resorting to international arbitration. (QNA)