ΆΓ  Korea to Sign Investment Pacts With Brunei, Mexico Today

KoreaTimes 2000.11.13  

Korea will sign agreements on the protection of investment with Brunei and Mexico today on the sidelines of the Asia-Pacific Economic Cooperation (APEC) forum underway in Brunei's capital of Bandar Seri Begawan, a Foreign Affairs-Trade Ministry official said yesterday.

The agreements are aimed at promoting reciprocal investment and granting investors most favored nation (MFN) status and equal treatment.

In particular, the agreement between Korea and Mexico contains a provision that opens the way for companies to resort to international arbitration in case a dispute takes place with the host government.

The agreement will be the first investment pact Mexico will sign with an Asian country, the official said, adding that Mexico views that the agreement is an important milestone in a process to sign a free trade agreement between them.

By signing the two agreements, Korea will have established such pacts with 64 countries from across the world.