Proclamation No. 69/1997

The Investment Promotion and Protection Agreement with the Government of the Republic of Italy Ratification Proclamation

WHEREAS, an Agreement between the Transitional Government of Ethiopia and the Government of the Republic of Italy, on the Promotion and Protection of Investments was signed in Addis Ababa on the 23rd day of December, 1994;

WHEREAS, it is stipulated in the Agreement that the Agreement shall enter into force one month after the date of exchange of the instruments of ratification;

WHEREAS, the House of Peoples’ Representatives of the Federal Democratic Republic of Ethiopia has ratified said Agreement at its session held on the 8th day of April, 1997;

NOW, THEREFORE, in accordance with Article 55 sub-Articles (1) and (12) of the Constitution, it is hereby proclaimed as follows:

1. Short Title

This Proclamation may be cited as the “Republic of Italy Agreement on Investment Promotion and Protection Ratification Proclamation No. 69/1997.”

2. Ratification of the Agreement

The Agreement on the Promotion and Protection of Investments signed in Addis Ababa on the 23rd day of December, 1994 between the Transitional Government of Ethiopia and the Government of the Republic of Italy is ratified.

3. Power of the Ethiopian Investment Authority

The Ethiopian Investment Authority is hereby em-powered to implement the Agreement.

4. Effective Date

This Proclamation shall enter into force as of the 8th day of April, 1997.

Done at Addis Ababa, this 8th day of April, 1997.

NEGASO GIDADA (DR.)

PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA