HC Deb 27 June 1978 vol 952 cc527-8W
Mr. Hooley

asked the Secretary of State for Foreign and Commonwealth Affairs what are the principal provisions of the investment protection agreement which has been signed between the United Kingdom on the one hand and Korea, Singapore, Romania, Egypt, Indonesia, Fiji and Thailand on the other; what further negotiations are under way; and how many such agreements are ultimately envisaged.

Mr. Tomlinson

Our investment promotion and protection agreements with Korea, Singapore, Romania, Egypt and Indonesia provide, on a reciprocal basis, for the creation of favourable conditions for greater investment in the countries concerned, fair and equitable treatment for investors, safeguards against improper expropriation, free transfer of capital and returns, and an agreed formula for arbitration in the event of disputes. Negotiations have been concluded, but ageements not yet signed, with Fiji and Thailand. Negotiations are in progress with Malaysia, Sri Lanka, Jordan, Pakistan, Bangladesh and the Philippines. We are in contact with several other countries but it is impossible to forecast how many agreements will ultimately be achieved.