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Estonia · Law · SE

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Act on the ratification of the agreement between the government of the Republic of Estonia and the government of the Kingdom of Sweden on the amendment and termination of the investment promotion and mutual protection agreement

avaldatud riigiteatajasEstonia· Riigikogu· ET

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14 September 2020

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AVALDATUD_RIIGITEATAJAS

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17 November 2020

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Summary

The bill provides for the ratification of the agreement between the government of the Republic of Estonia and the government of the Kingdom of Sweden on the amendment and termination of the investment promotion and mutual protection agreement, which will be concluded by exchanging notes after the adoption of the ratification act in the Riigikogu. The agreement between Estonia and Sweden was signed on March 31, 1992 in Stockholm and entered into force on May 20, 1992. With a note dated February 27 this year, Sweden made Estonia proposal to change the contract and terminate it. The agreement must be amended before termination, as its provisions make the agreement valid for 20 years after its termination for investments made while in force. Termination of the agreement is necessary to ensure equal treatment of investors from all EU member states as a result of the legislation of the European Union. Investment promotion and protection agreements deal with areas regulated by EU law. After joining the EU, Member States' need for such additional guarantees has disappeared, as all Member States are subject to the same EU Single Market rules, including those on cross-border investments. In the past, Estonia has concluded bilateral investment promotion and mutual protection agreements with Italy, the Czech Republic, Denmark and Poland. Bilateral agreements between EU member states were signed on May 5 this year to the Investment Treaty Termination Agreement, which terminates intra-EU bilateral investment treaties in a coordinated manner. The agreement terminates eight of the 12 intra-EU investment protection agreements signed by Estonia. These are agreements concluded with Spain, the Netherlands, Greece, Latvia, Lithuania, France, Germany and the Belgium-Luxembourg Economic Union.

Machine translation from Estonian. The official text remains authoritative.

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34 official files

Lõppteksti lisa 2

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