Ulaanbaatar /MONTSAME/ The annual International Investments Agreements (IIA) conference opened on October 09 in Geneva, Switzerland.
This high-level conference is discussing IIA reform process, achievements and best practices as well as objectives and issues to pay attention in the second phase of the reform.
State Secretary of Foreign Affairs Ministry D.Davaasuren participated in the opening plenary session of the conference and made speech. He noted that investment agreements of Mongolia, established in 1990-2009, were outdated and do not meet current requirements of global economy, which are changing rapidly. He reported on the working out process of model agreement draft, participation and support of the United Nations Conference on Trade and Development (UNCTAD) and future cooperation issues. He underlined the necessity of making analysis on influences of investment agreements in economy and legislation as well as strengthening developing countries’ capacity of making agreements.
UNCTAD is organizing the conference and the attendees are high-level IIA negotiators from developing, developed and transition economies and representatives from civil society, intergovernmental organizations and the private sector.