Connect with us

Newsdesk

Djibouti Signs ICSID Convention to Encourage Investment

Newsroom

Published

on

The Republic of Djibouti signed the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention) today at a ceremony on the sidelines of the World Bank and International Monetary Fund Spring Meetings.

The ICSID Convention, which entered into force in 1966, establishes the institutional and legal framework for foreign investment dispute settlement. It was created to facilitate investment amongst countries by providing an independent, depoliticized forum for arbitration, conciliation and fact-finding. To date, the Convention has been signed by 163 countries, of which 154 have also ratified it.

At today’s ceremony, Minister of Economy & Finance in Charge of Industry, Commerce &Tourism, Ilyas Moussa Dawaleh signed on behalf of the Republic Djibouti, with the ICSID represented by its Secretary-General, Meg Kinnear. 

Joining ICSID is part of a series of actions that the government of Djibouti has undertaken to transform the business and investment environment in Djibouti, create employment opportunities for youth and women, and to boost economic growth in the country,” said Minister Moussa Dawaleh. 

 “Today’s signature of the ICSID Convention underscores Djibouti’s commitment to creating an environment in which private investment serves as a catalyst for growth and job creation,” said Meg Kinnear, ICSID Secretary-General. 

With this signing, Djibouti has become the 163rd country to sign the Convention. The Convention must now be ratified by Djibouti before coming into force. 

Continue Reading
Comments

EU Politics

Parliament decides on new Commission President

Newsroom

Published

on

MEPs vote on the candidate for the president of the European Commission on Tuesday 16 July.

German Defence Minister Ursula von der Leyen, who was nominated for the post by the European Council, will outline her programme and discuss it with MEPs from 9.00 CET. MEPs will vote on her candidacy at 18.00 CET.

In order to become Commission President, von der Leyen must secure the support of an absolute majority of MEPs (as of today she must get at least 374 votes). The vote will be a secret paper ballot.

Although she has the backing of EU leaders and is a member of the political party that won most seats in the European elections, von der Leyen was not a lead candidate, a fact criticised by many MEPs.

Political groups have already subjected von der Leyen to tough questioning about her plans for the Commission.

If she fails to win a majority, the European Council would have to put forward another candidate.

Following May’s elections, one of the first tasks of the new, directly-elected European Parliament is the election of the next European Commission President.

Once this new president has been approved, work starts on setting up the new Commission. Parliament’s committees will hold hearings with each of the commissioners-designate to assess their suitability for the portfolio to which they are assigned, before MEPs vote on the Commission as a whole.

Continue Reading

Newsdesk

Academic Seminar Europe Goes Silk Road through Armenia Took Place in Yerevan

Newsroom

Published

on

July 12, 2019, Yerevan, Armenia- “China-Eurasia” Council for Political and Strategic Research, Russian-Armenian University (RAU) and “Europe Goes Silk Road” jointly organized academic Seminar “Europe Goes Silk Road through Armenia”. Academic seminar was hosted bythe RAU. 

During the opening ceremony of the seminar, Mr. Zhou Hongyou (Counsellor of the Chinese Embassy in Armenia), spoke about the Belt and Road Initiative’s progress, results and prospects, he also introduced the last developments in Sino-Armenian relations.

Dr. Arman Navasardyan (Ambassador Extraordinary and Plenipotentiary, Ex Deputy Minister of the Ministry of Foreign Affairs of the Republic of Armenia, Head of the Department of World Politics and International Relations of the RAU) introduced several recommendations for improving Sino-Armenian cooperation.

In turn, Mr. Sebastian Holler, (Co-Founder of the EUROPE GOES SILK ROAD, Research Associate of the Austrian National Defence Academy, Member of the Shabka Think Tank) told about the foundation of the EUROPE GOES SILK ROAD project.

Dr. Mher Sahakyan, the main initiator of this academic Seminar welcomed speakers and guests and mentioned, that the main aim of the seminar was to provide a platform for researchers who do research on Belt and Road initiative.

After the opening remarks Mr. Sebastian Maier (Co-Founder, EUROPE GOES SILK ROAD, Independent Infrastructure Researcher, former TU Wien Assistant Professor) and
Mr. Florian Krendl (Co-Founder, EUROPE GOES SILK ROAD, Member of the 2050 Thinkers Club, Austria) introduced the main aims and approaches of the  “EUROPE GOES SILK ROAD” project.

Mr. Sebastian Holler and Mr. Sebastian Maier spoke about preliminary results and outlook of the “EUROPE GOES SILK ROAD Expedition.

Dr. Varuzhan Geghamyan (Assistant Professor, Yerevan State University Director, ARDI Institute) introduced his research on Sino-Turkish relations in the 21-st century.

Dr. Mher Sahakyan’s research was focused on main aims of the Belt and Road Initiative and he also introduced several recommendations for improving Sino-Armenian Cooperation in the context of Belt and Road Initiative.

An active discussions and exchange of thoughts followed after each presentation.

Continue Reading

Newsdesk

OECD very concerned that active bribery is no longer a felony in Greece

Newsroom

Published

on

The OECD Working Group on Bribery has serious concerns that recent steps taken by Greece may leave the country in breach of the OECD’s Anti-Bribery Convention. On 11 June 2019, Greece amended the Criminal and Criminal Procedure Codes. As a result, the main active bribery offence was converted from felony to a misdemeanour, which is a less serious offence. The Working Group is concerned that this amendment may have far-reaching ramifications, ranging from the closure of ongoing corruption-related investigations and prosecutions, to possible hindrance of international cooperation in future cases and shorter limitations period. The Codes entered into force on 1 July 2019, having been adopted in the last session before Parliament was dissolved ahead of national elections, which took place on 7 July 2019.

The OECD Working Group on Bribery will conduct a supplementary Phase 3ter review of Greece, with an on-site visit in the fall of 2019 and the publication of an evaluation report in December 2019.[2] The evaluation will be conducted jointly with the Council of Europe Group of States against Corruption (GRECO), which also decided to carry out an urgent evaluation of Greece’s amendments to its Criminal Code. Depending on the results of this evaluation, the OECD Working Group may decide that further appropriate measures are necessary, including the possibility of a High Level Mission to Greece. The OECD Working Group has also agreed to issue a letter that will be sent to the Greek Prime Minister. The letter will outline serious concerns about the potential impact of the revised anti-corruption criminal measures.

This is the second time the Working Group has decided to undertake a supplementary examination of Greece. In 2012, Greece failed to promptly investigate a significant foreign bribery case and to provide timely information on its anti-bribery efforts, and, as a result, the Working Group on Bribery conducted a Phase 3bis evaluation in 2015.

Continue Reading

Latest

Trending

Copyright © 2019 Modern Diplomacy