HK, Chile ink in­vest­ment deal at APEC meet­ing

Kuwait Times - - BUSINESS -

Hong Kong and Chile have signed a bi­lat­eral in­vest­ment agree­ment on the side­lines of an Asian-Pa­cific sum­mit in Peru. The Hong Kong gov­ern­ment said yes­ter­day that the deal pro­vides for in­vest­ment dis­putes to be set­tled un­der in­ter­na­tion­ally rec­og­nized rules.

The deal also al­lows for com­pen­sa­tion if in­vest­ments are ex­pro­pri­ated, and gives in­vestors the right to freely trans­fer abroad their in­vest­ments and re­turns.

Hong Kong Com­merce Sec­re­tary Gre­gory So and Chilean For­eign Min­is­ter Her­aldo Munoz signed the deal at the Asi­aPa­cific Eco­nomic Co­op­er­a­tion Fo­rum on Fri­day.

It fol­lows a free trade agree­ment that the Chi­nese fi­nan­cial hub and Latin Amer­i­can coun­try signed in 2012.

More than 1,000 del­e­gates from 21 coun­tries, rep­re­sent­ing nearly two-fifths per­cent of the world’s pop­u­la­tion, are in Lima for the APEC fo­rum aimed at eas­ing global com­merce. — AP

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