UAE, Netherlands sign investments deal
Abu Dhabi, December 3, 2013
UAE’s Ministry of Finance (MoF) recently signed an agreement to protect and encourage investments with the Netherlands at the Ministry’s headquarters in Abu Dhabi.
The agreement was signed by Obaid Humaid Al Tayer, Minister of State for Financial Affairs, and Dutch Minister of Economic Affairs Henk Kamp.
“The UAE consistently strives to expand its trade and investment network throughout various countries around the world, which reflects the Federal Government’s belief in supporting and protecting UAE investments around the world,” said Al Tayer.
“The signing of this agreement with the Netherlands is a prime example of this, and will provide positive, solid opportunities for UAE investors.
“Finalising the agreement is vital for UAE investors in terms of expanding their projects in the Netherlands, as it will safeguard against non-commercial and political risks limiting their expansion. This will have a positive impact in terms of stimulating the movement of trade and investments between the UAE and the Netherlands,” he added.
The signing of the agreement will create a suitable investment environment for both countries and protect them from any non- commercial and political risks such as direct or indirect nationalisation confiscation and seizure, providing financial compensation in case investments are ever destroyed due to uprisings, conflicts or any action taken by the security force to damage or destroy them.
Furthermore, it is important for both countries to respect their obligations towards investors and the free convertibility of dividends and return on investments, which are only possible with free and immediate currency exchange, including the revenues and profits on national airlines. – TradeArabia News Service