Trinidad and Tobago has signed a major investment agreement with the United Arab Emirates.
The Agreement for the Promotion and Reciprocal Protection of Investment was signed by Minister of Foreign Affairs Sean Sobers and Minister of State for Financial Affairs for the UAE Mohammed bin Hadi Al Hussaini.
The agreement was signed on the margin of the World Government Summit in Dubai, UAE, a global non-profit organization that serves as a platform for dialogue and knowledge exchange among governments.
The Ministry of Foreign Affairs stated that the agreement provides the necessary investment framework to support and protect investments between Trinidad and Tobago and the UAE.
“It enables investors from both countries to engage in investment activities with confidence, as it guides the expected behaviour of investors and ensures the rights of investors and States protected,” a release from the Ministry stated.
“It offers protection such as fair and equitable treatment and protection against expropriation, and also establishes mechanisms for resolving investment disputes.”
The UAE has over $2.5 trillion in foreign investments globally, with fintech, healthcare, tourism, manufacturing and real estate among their key sectors of investment.
