Eesti keeles

Press Release

On January 17, 1997 Ambassador Lawrence Taylor and Toomas H. Ilves, Minister of Foreign Affairs will formally exchange documents concerning the Treaty Between Estonia and the U.S. for the Encouragement and Protection of Investment.The Treaty was signed in Washington April 19, 1994 by Estonian Prime Minister Mart Laar and U.S. vice-president Al Gore.

This treaty provides investors from both Estonia and the U.S. operating in the other's territory with basic protections including limits on expropriation of property, the right to transfer funds out of the country, restrictions on the governments from imposing performance requirements on investments, the right for an investor to engage top personnel of the investor's choosing, regardless of nationality, and the right for disputes with the government to be solved through binding international arbitration.This treaty reduces the risks for investors in one another's country, providing them with protection against locking in a high standard of treatment.

In addition to encouraging and protecting investment, this treaty will support the development of international law standards consistent with these aims.

The "Treaty Between the U. S. and Estonia for the Encouragement and Protection of Investment" will come into force in 30 days after changing documents.

For further information please contact Estonian Ministry of Foreign Affairs Press Service : ph. 6317 631.