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Bilaterial Investment Treaty between the Governments of Jersey and UAE

A decision made 22 March 2023:

Decision Reference:  MD-ER-2023-169

Public

Subject: Notification of the entry into force of the Bilateral Investment Treaty between the GoJ and the Gov of the UAE

 

Report Title: Notification of the entry into force of the Bilateral Investment Treaty between the GoJ and the Gov of the UAE

Public

Decision(s):

The Assistant Minister decided to notify the States Assembly of the entry into force, on 13th March 2023, of the Bilateral Agreement for the Promotion and Protection of Investments between the Government of Jersey and the Government of the United Arab Emirates ('UAE') ('the Agreement').

Reason for Decision(s):

The Agreement was signed on 9th November 2021, and presented to the States Assembly on 20th January 2023, through R.6/2023. Subsequently, a debate was held on 1st March 2023, on the Agreement’s conclusion and entry into force after the lodging of P.6/2023.   Following the debate, the Assembly voted to request the Minister to take the final steps to bring the Agreement into force as soon as possible. On 2nd March 2023, the Assistant Minister for External Relations and Financial Services duly communicated to UAE counterparts the completion of Jersey’s domestic procedures.  Both Parties to the Agreement have now completed their domestic procedures, and the Agreement therefore entered into force on the date on which the UAE formally acknowledged receipt of the Assistant Minister’s correspondence. This confirmation was provided to the Government of Jersey on 13th March 2023, and denotes the entry into force date.  As outlined in MD-ER-2023-855, this second Decision notifies the Assembly that the procedure has been completed and that the Agreement is in force.

Resource Implications: There are no implications expected for the financial and other resources of the States arising from the notification of the entry into force of the Agreement.

 

Action Required: The Greffier of the States is requested to arrange for the Report to be presented formally to the States notifying the Assembly of the entry into force of the Agreement on 13th March 2023.

Signature:

 

 

Signed By: Assistant Minister for External Relations and Financial Services

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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