A new Agreement on the promotion and mutual protection of investments will be signed between the Republic of Moldova and Italy. The cabinet decided yesterday to start negotiations in this regard.
The document is divided into 17 articles and sets out legal principles to strengthen investment relations and boost bilateral economic dialogue. The agreement is to be concluded for a period of 10 years, with possible extension for another 5 years.
According to Minister of Economy and Infrastructure Chiril Gaburici, the draft agreement was sent to Moldova by the Italian side. Gaburici said that the old agreement between Italy and Moldova in 1997 has expired and cannot be extended.
The Ministry of Economy and Infrastructure will be the body responsible for conducting the negotiation process.
