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Russia, US about to begin preparations for signing investment protection agreement

The United States and Russia have come to a stage of practical work on signing of an agreement on protection of investments, Russian Minister of Economic Development Alexei Ulyukayev told journalists on Wednesday after a meeting of the secotral working group under the bilateral presidential cooperation commission.

Apart from that, Ulyukayev met with U.S. representative at trade negotiations Michael Froman and with U.S. businessman.

"We discussed issues of the legal framework of our relations. I hope we have reached a stage of practical preparation of these documents. I think we will be able to submit relevant proposals to the leaders of our countries soon," he said, adding that the agenda was topped by the agreement on protection of investments.

The document, according to the Russian minister, was under expert scrutiny. "We must arrive at a pragmatic solution," he noted. He said he hoped more precise data would be available by May.

In January 2014, Ulyukayev said that Russia and the United States would be able to sign agreements on trade and investment regimes in 2014-2015.

[Source: Itar Tass, Washington, 27Feb14]

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