https://www.engineeringnews.co.za

South Africa terminates the Bilateral Agreement with Switzerland on the Promotion and the Reciprocal Protection of Investments

1st November 2013

  

Font size: - +

This article has been supplied.

Swiss  (0.05 MB)

The Swiss authorities were notified by South Africa of the termination of the Agreement on the Promotion and the Reciprocal Protection of Investments between the Swiss Federal Council and the Government of the Republic of South Africa which entered into force on 29 November 1997.

Termination of this Agreement by either side is legally possible giving twelve months’ advanced notice. Investments made prior to the effect of termination will continue to be protected by the Agreement for a period of twenty years from the date of its termination. South Africa had informed Switzerland in advance of its policy to terminate all bilateral investment promotion and protection treaties and to establish a national legislation in this regard.
Switzerland regrets this unilateral step taken by South Africa and would have preferred the continuation of this agreement. Bilateral investment agreements remain an important pillar for the development of Swiss foreign investments in a large range of countries.

Switzerland stresses the importance of a solid legal framework to protect foreign direct investments. Currently Switzerland is ranked seventh in its foreign direct investments in South Africa with a value of 27,4 billion ZAR (around 2,4 billion CHF). Switzerland expects that South Africa will swiftly introduce a reliable and equivalent national legal framework for the promotion and protection of investments in order to restore solid guarantees and predictability for Swiss companies investing in South Africa in the future. Switzerland remains committed to continuing discussions with South Africa on the future framework for the protection of foreign investments.

To watch Creamer Media's latest video reports, click here
 

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sulzer Pumps (SA) (Pty) Ltd
Sulzer Pumps (SA) (Pty) Ltd

Sulzer South Africa, established in 1922, partners with critical industries like power, oil & gas, water, mining, and chemicals to boost...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.056 0.7s - 143pq - 2rq
Subscribe Now