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Japan, Argentina sign investment promotion pact

  • December 2, 2018
  • , Kyodo News , 11:56 a.m.
  • English Press

Buenos Aires, Dec. 1 (Jiji Press)–Japan and Argentina signed on Saturday a bilateral investment promotion pact.

Japanese Prime Minister Shinzo Abe and Argentine President Mauricio Macri attended a signing ceremony, held in the Argentine capital of Buenos Aires.

The pact will take effect after necessary domestic procedures in both countries.

It calls on each country to give equal treatment to domestic firms and companies from the other nation while stipulating dispute settlement procedures.

According to the Japan External Trade Organization, Japan’s direct investment in Argentina stood at 4.2 billion yen in 2017, down sharply from 130 billion yen in the preceding year.

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