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Фото: urm.lt

The delegation of the UAE was headed by Hamid Nasr Abdel Qadir, economics expert of the Ministry of Finance. The Lithuanian delegation was led by Sigute Jakstonyte, Director of Law and International Treaties Department of the Lithuanian Ministry of Foreign Affairs.

During the negotiations representatives of both countries agreed on all provisions of the bilateral investment promotion agreement. The agreement is aimed at creating favourable conditions for Lithuanian and UAE investors.

At the moment, investment conditions and investor protection measures both in Lithuania and the UAE are regulated by national legislation. However, once the agreement is concluded, Lithuanian and UAE investments will be granted international legal protection guarantees. The agreement shall consolidate the highest standards of investment and investor protection which meet the European Union's investment policy.