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Japan eyes investment treaty with Cambodia, Laos

Wednesday September 6, 2006

Japan eyes investment treaty with Cambodia, Laos

(Kyodo) — Japan is considering starting negotiations on signing a bilateral investment treaty with Cambodia and Laos to promote the entry of Japanese businesses in the developing economies’ markets, a Japanese government official said Wednesday.

Economy, Trade and Industry Minister Toshihiro Nikai told a group of delegates from four less-developed economies of the Association of Southeast Asian Nations that Tokyo is positive about the investment accord which will protect and promote direct investment by foreign firms, the official said.

The ASEAN delegation from Cambodia, Laos, Myanmar and Vietnam include Laotian Industry and Commerce Minister Nam Vignaket and high-ranking government officials and business representatives. Japan already has an investment accord with Vietnam.

Japan will hold preparatory talks on investment pacts with Cambodia and Laos later this month in the capital cities of the two countries. Tokyo hopes to launch negotiations on the accords during summit meetings with the two ASEAN members expected to be held in December in the Philippines, the official said.

During their visit, the ASEAN delegates aim to hear views of the Japan Business Federation and the Japan Chamber of Commerce and Industry on Japanese firms’ investment in their countries, he said.

 source: Kyodo