Qatar has signed more 50 bilateral agreements for safeguarding Qatari investments in other countries around the world, said Sheikh Thani bin Ali al Thani, member of the International Court of Arbitration of the International Chamber of Commerce (ICC).
These agreements represent a basic guarantee for all Qatari investors including the Qatar investment Authority, economic entities, government-owned corporations and private companies on establishing investments in projects which are being implemented in other countries.
His Excellency stressed on the key role played by the international mechanisms in safeguarding foreign investments worldwide, noting that all international organisations and agreements are keen on setting up unified rules to provide equal treatment for all investments.
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Set up since 1965, the International Centre for the Settlement of Investment Disputes (ICSID) was established by the World Bank to settle disputes between foreign investors and the host country.
Sheikh Thani said since its inception, the ICSID has settled more than 600 different cases including cases from Arab countries such as Jordan, Morocco, Algeria, Lebanon, Oman and Yemen.
He said there is a plan to amend the principles of the centre submitted to ICSID by the end of the year. The rules were first set in 1967 and were later amended in 1978, 1984 and 2006. ICSID adopted many investment principles such as safeguarding investors' rights, non-discrimination between national and foreign investment, freedom of revenue transfer and avoiding any arbitrary measures.
