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KOR

Press Releases

Korea-Trinidad and Tobago Investment Agreement Initialed

Date
2001-06-26
hit
7776

1. Korea and Trinidad and Tobago initialed the Korea-Trinidad and Tobago Investment Agreement at their 
Negotiation Meeting from June 25 to 26, 2001, held at the Ministry of Foreign Affairs and Trade. The Head of 
the Korean delegation was Mr. Shin Boo-nam, Director of the Economic Cooperation Division. 

2. The agreement aims to minimize the difficulties foreign investors face, by granting national treatment and 
most favored treatment to investors in each other’s country, protecting investors from non-commercial risks, 
such as expropriation and nationalization, and allowing the remittance of money. The agreement allows the 
government of the home country to subrogate the right of its investors. Investors can submit his or her 
dispute with the hosting government to an international tribunal, chosen by the investor. 

3. The Korean Government expects that if the Agreement is concluded, a foundation for the promotion of 
long-term economic and trade relations will be established with Trinidad and Tobago, an oil producing 
country. This is the second Investment Agreement with a member country of the Caribbean Community 
(CARICOM), the first Investment Agreement being with Jamaica. The Korean Government expects that this 
Agreement with Trinidad and Tobago will contribute to the promotion of economic relations with other 
countries in that region. 


                                                              Spokesperson of MOFAT

* unofficial translation