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he Honourable Minister of Economic Affairs and Finance of the Islamic Republic of Iran, H.E. Dr. Davood Danesh Jafari, signed the Agreement on Promotion and Protection of Investment (APPI) and Protocol on Amendment to Article 9(7) of the APPI, on February 26, 2008, at the Secretariat in Tehran. In the ceremony in this regard, Secretary General, the Ambassadors of the ECO Member States and Media representatives were present.
The Agreement has very important objectives which include the free movement of capital within the region, the establishment of a sustainable Business Management, joint ventures in the ECO region attracting Foreign Direct Investment (FDI) and exchange of experiences regarding investment, privatization and macro-economic policies.
The Agreement was signed at the end the 3rd ECO Ministerial Meeting on Commerce/Foreign Trade (Istanbul, 7 July 2005) by the Islamic Republic of Afghanistan, the Republic of Azerbaijan and the Republic of Turkey during the same Meeting. The Agreement and its protocol is open in the Secretariat for signing by the other ECO member states. According to Article 12 of the Agreement, it will come into force two months after the deposit of the fourth Instrument of Ratification with Secretariat.
At the end H.E. Dr. Davood Danesh Jafari and Secretary General answered the questions raised by the media representatives.
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