On 6 February, the “Agreement between Japan and the Republic of Zambia for the Promotion and Protection of Investment” (Japan-Zambia Investment Agreement) was signed in Tokyo by H.E. Mr. TAKEUCHI Kazuyuki, Ambassador Extraordinary and Plenipotentiary of Japan to the Republic of Zambia and Honourable Chipoka MULENGA, Minister of Commerce, Trade and Industry of the Republic of Zambia.
- This Agreement aims to further protect and promote investment between the Contracting Parties. It stipulates the treatments accorded to investment activities and investments when an investor (e.g. an enterprise) of a Contracting Party invests in the other Contracting Party: national treatment at the post-establishment phase of investments, most-favoured-nation treatment at the pre-establishment and post-establishment phase of investments; fair and equitable treatment; prohibition of performance requirements; conditions for expropriation and compensation; freedom of transfers; procedures for dispute settlements.
- Zambia focuses on anti-corruption measures, the rule of law and good governance, and is actively working to attract foreign investment while promoting debt restructuring with economic reform as one of its top priorities. Also, Zambia has great economic potential due to its rich mineral resources, including copper and cobalt, and is attracting strong interest of Japanese companies, which will bring growing investment in the country. This Agreement is expected to further promote the development of the investment environment and strengthen economic relations between the two countries.
- The Contracting Parties will notify each other, through diplomatic channels, of the completion of their respective internal procedures necessary for the entry into force of this Agreement (in case of Japan, the approval of the National Diet will be required). This Agreement will enter into force on the thirtieth day after the latter of the dates of receipt of the notifications.
Distributed by APO Group on behalf of Ministry of Foreign Affairs of Japan.
