“The termination of Bilateral Investment Treaties between EU member states is a significant step that serves the interest of the country, as it terminates claims for compensation while establishing a transparency regime for foreign investment”, stressed Alternate Minister of Foreign Affairs Miltiadis Varvitsiotis speaking at the Parliament’s Standing Committee on National Defence and Foreign Affairs, during the discussion on the ratification of the Agreement on the termination of Bilateral Investment Treaties between EU member states.
In particular, Mr. Varvitsiotis pointed out that the Agreement being ratified provides the Greek economy with an even greater opportunity to attract investment, without the state interfering and taking any risk for the investment that will take place. “The termination of Bilateral Investment Treaties finally ensures competition on equal terms, puts an end to preferential treatment and international arbitration and protects the country as a whole but also the investors, Greeks and foreigners, who will come to invest in our country”, he added.
In his speech, the Alternate Minister also made special mention of the initiative to convene the Parliamentary Committees on Foreign Affairs of the EU Med Group member states, on the occasion of the Summit which will be held in Athens on September 17. Mr. Varvitsiotis congratulated the Committee on this initiative, which he said falls within the context of broadening the agenda and communication between EU Med Group member states, which was decided by himself and his counterparts at the June ministerial meeting in Vouliagmeni. “With the decision we took in June, MED7 was transformed into a group, now called EU Med Group, with the addition of Croatia and Slovenia”, he stressed.
September 8, 2021