Investment agreement between Sri Lanka and Iran

The law pertaining to a mutual investment agreement between Iran and Sri Lanka which was approved by the Guardians Council has been notified to the Ministry of Economic Affairs and Finance of Iran for implementation, Iranian news agencies reported today (03).
A report by the Public Relations Department of the Ministry of Economic Affairs and Finance on Wednesday said that based on the agreement, the two sides will strengthen economic cooperation and encourage and create necessary conditions for investment by nationals of the other side within the framework of their regulations. The agreement will be valid for 10 years, the report said, adding that following the expiry of the period, it can remain in force unless one of the parties seeks its termination in writing six months before the date it expires. The law on the agreement to support and encourage investment in the two countries contains an introduction, 13 articles and amended protocol, sources added.

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