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Trade and Industry Department The Government of the Hong Kong Special Administrative Region
Brand Hong Kong - Asia world city
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Commercial Information Circulars

24-hour hotline : 23 922 922

e-mail address : enquiry@tid.gov.hk

Ref. : CR TID 2302/60

17 June 2019

Dear Sir/Madam,

Commercial Information Circular No. 453/2019

The United Arab Emirates : Investment Promotion and Protection Agreement between Hong Kong and the United Arab Emirates

INTRODUCTION

The Under Secretary for Commerce and Economic Development, Dr Bernard Chan, signed an Investment Promotion and Protection Agreement (Agreement) on 16 June 2019 in Dubai, with the Undersecretary of the Ministry of Finance of the United Arab Emirates (UAE), Mr Younis Haji Al Khoori.

2.The Agreement with the UAE is the third similar agreement that this term of Government has signed since taking office in July 2017; the other two are the investment agreements with respectively the Association of Southeast Asian Nations and Australia. It is also the 21st investment agreement that Hong Kong has signed with foreign economies.

THE INVESTMENT AGREEMENT

3.Under the Agreement, the two governments undertake to provide investors of the other side with fair, equitable and non-discriminatory treatment of their investments; compensation in the event of expropriation of investments; and the right to free transfers abroad of investments and returns. The Agreement also provides for settlement of investment disputes under internationally accepted rules. The Agreement will enter into force after the fulfilment of relevant internal requirements by both sides.

4.The Agreement is set to enhance the confidence of investors, expand investment flows and further strengthen the economic and trade ties between the two places.

5.Full text of the Agreement is available at <https://www.tid.gov.hk/english/ita/ippa/index.html>.

ENQUIRIES

6.For enquiries, please contact the undersigned at 3403 6064.

Yours faithfully,

(Miss Mandy Lam)
for Director-General of Trade and Industry

Note: While every effort is made to ensure the accuracy of the above information, the Department cannot guarantee this to be so and will not be held liable for any reliance placed on the same.