Investment Agreement between Sri Lanka and Australia
[Wednesday, March 21, 2007 - 5.30 GMT]   

The Investment Promotion and Protection Agreement between Sri Lanka and Australia will set out State to State guarantees with regard to the promotion, protection and standard treatment of investments, compensation for losses and provision relating to settlement of investment disputes.

Australia is ranked the second largest investor in Sri Lanka and the entry into force of the Bilateral Investment Promotion and Protection Agreement is
expected to generate greater flow of Australian investments into Sri Lanka through the creation of an appropriate legal environment for such investment
flows.
 
The Ministry of Foreign Affairs states in a media release that the Investment Promotion and Protection Agreement between Sri Lanka and Australia will enter into force with effect from 14th March 2007, with the
completion by the Australian authorities of its domestic procedures for the entry into force of the Agreement. Sri Lanka had completed its internal legal requirements in February 2006.

The Agreement sets out the State to State guarantees with regard to, inter-alia, promotion and protection of investments, standard of treatment of investments, compensation for losses, including in the event of
expropriation or nationalization and provision relating to settlement of investment disputes.

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Last Updated Date: March 21, 2007 - 5.30 GMT