The Republic of Moldova will begin negotiations with the Kingdom of Sweden and the Republic of Kazakhstan on agreements for the reciprocal promotion and protection of investments. At its meeting on July 23, the Parliamentary Committee on Foreign Policy approved the initiation of negotiations with both countries, TRIBUNA reports.

The agreements are expected to strengthen the bilateral legal framework governing investments, reinforce investment relations, and enhance economic dialogue between the Republic of Moldova and the two partner countries.

According to the Ministry of Economic Development and Digitalization, which initiated the process, implementation of the treaties will support the development of priority sectors of the economy, create new jobs, improve the competitiveness of the business environment, facilitate access to advanced technologies, and promote tourism in the Republic of Moldova. The ultimate objective is to attract a greater volume of investment by establishing a legal framework that encourages entrepreneurship and investment from both foreign and domestic businesses.

Agreements on the reciprocal promotion and protection of investments are regarded as essential instruments for attracting foreign direct investment and safeguarding investors’ rights in today’s global economic environment. Moldova currently has approximately 43 such agreements in force, including 20 with member states of the European Union.