Secretary for Commerce & Economic Development Gregory So has signed an investment agreement with Chilean Minister of Foreign Affairs Heraldo Muñoz Valenzuela.
The agreement, signed in Lima, Peru, yesterday, is a step further to the free trade agreement signed by Hong Kong and Chile in 2012.
Its signing will enhance investors’ confidence, expand investment flows and further strengthen economic and trade ties.
The two governments undertake to provide investors of the other side with fair, equitable and non-discriminatory treatment of their investments.
Investors will receive compensation upon expropriation of investments, and have the right to freely transfer investments and returns abroad.
The agreement also provides for settlement of investment disputes under internationally accepted rules.
It will enter into force after both sides complete the internal procedures.
