The Kazakh parliament has ratified an agreement with Armenia on promotion and joint protection of investments.
"The agreement states that both sides are bound to provide fair and equitable currency of investments and investment returns as well as economic protection", said vice-minister for industry and technologies Narmuhambet Abdibekov.
The agreement was signed on November 2006. It is aimed at further developing economic cooperation between the countries. Meanwhile, both sides have the right to exclude and limit the sphere of action of the agreement.
The agreement also states that the sides are bound to compensate for loss of investment in case of nationalization or expropriation.
The Armenian side has already completed the procedures ratifying the agreement.
