Tashkent, Uzbekistan (UzDaily.com) -- On 9 July 2020, an intergovernmental agreement on mutual promotion and protection of investments between Uzbekistan and Turkey entered into force.

The document was signed during the visit of the President of the Republic of Uzbekistan to the Republic of Turkey on 25 October 2017.

According to the provisions of this document, the most favored nation treatment is applied to investments made by investors of the two countries.

The agreement defines the legal framework for protecting the rights of investors, facilitating the flow of capital and technology, and free money transfers.

The document is intended to replace the previous intergovernmental Agreement from 28 April 1992 and is aimed at improving the procedure for mutual promotion and protection of investments, taking into account modern realities.

The agreement creates a solid basis for the inflow of mutual investments in the economy of the two states, and also increases the investment attractiveness of both countries for potential foreign investors.