Soon Peesai would be branded as a terrorist state itself?
<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published April 10, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>S'pore, Libya sign pacts
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</TD><TD>Feedback</TD></TR></TBODY></TABLE>IN a sign of strengthening economic relations, Singapore and Libya have signed an Investment Guarantee Agreement (IGA) and the Avoidance of Double Taxation Convention (DTC).
The Trade and Industry Ministry said yesterday the move was a signal to the business community that opportunities for business and investment exist amid the current slowdown.
The IGA accords non-discriminatory treatment to investors, who can now expect free transfer of capital and returns from their investments abroad. Investors are also protected by compensation in cases of expropriation or nationalisation of their investments, and access to international arbitration when disputes arise.
The DTC will promote bilateral trade and investment flows and facilitates the exchange of technical know-how and expertise. The pact with Libya is Singapore's 63rd comprehensive tax treaty and will take effect after it is ratified by both countries.
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<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published April 10, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>S'pore, Libya sign pacts
<TABLE class=storyLinks cellSpacing=4 cellPadding=1 width=136 align=right border=0><TBODY><TR class=font10><TD align=right width=20>
</TD><TD>Email this article</TD></TR><TR class=font10><TD align=right width=20>
</TD><TD>Print article </TD></TR><TR class=font10><TD align=right width=20>
</TD><TD>Feedback</TD></TR></TBODY></TABLE>IN a sign of strengthening economic relations, Singapore and Libya have signed an Investment Guarantee Agreement (IGA) and the Avoidance of Double Taxation Convention (DTC).The Trade and Industry Ministry said yesterday the move was a signal to the business community that opportunities for business and investment exist amid the current slowdown.
The IGA accords non-discriminatory treatment to investors, who can now expect free transfer of capital and returns from their investments abroad. Investors are also protected by compensation in cases of expropriation or nationalisation of their investments, and access to international arbitration when disputes arise.
The DTC will promote bilateral trade and investment flows and facilitates the exchange of technical know-how and expertise. The pact with Libya is Singapore's 63rd comprehensive tax treaty and will take effect after it is ratified by both countries.
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