The Committee agreed at its Meeting that the passing of this Bill (Reg.No.0005) is necessary to give effect to the Treaty, whose realization will considerable boost the development of International Investment cooperation in such challenging areas as the attraction of Foreign Investments and Technologies, and contribute to an invigoration in Foreign Trade turnover, reduction of non-commercial risks arising during investment activities, as well as strengthening the positive image of Ukraine as a State with a stable International Legal framework in place for the protection of Foreign Investments.
It was emphasized at the meeting that the provisions of the Treaty, signed on 26 February 2007 in Kyiv, will secure guarantees against illegal expropriation and nationalization, envisage free transfer of payments, and settlement of disputes between Investors of the Treaty Member Countries and Treaty Parties, through negotiations and the use of generally recognized International procedures.
Members of the Committee agree that the passing of this Bill, and ratification of the Treaty, will allow for the extension of bilateral cooperation between the two countries in the area of Investment Protection, and will bring International Treaties in line with European Union Law, now that the Slovak Republic has entered the EU.