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Singapore and Iran sign bilateral investment treaty

by ChemOrbis Editorial Team -
  • 01/03/2016 (14:38)
According to media reports, Singapore and Iran have signed a Bilateral Investment Treaty (BIT) to boost bilateral trade and investments during a visit by Singaporean officials to Iran. Through the new agreement, Singaporean investors will be able to seek new business opportunities in Iran following the removal of sanctions.

Under the agreement, the parties will protect investors’ interests while Singaporean companies operating in Iran will enjoy protection under the treaty on top of the protection accorded under Iran’s domestic laws.

Prior to the implementation of sanctions, Singapore’s bilateral trade with Iran amounted to $6.6 billion dollars in 2011. However, trade between the two countries hit a record low of about $171 million last year.
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