Proclamation No. 70/1997

The Investment Promotion and Protection Agreement with the State of Kuwait Ratification proclamation

WHEREAS, an Agreement between the Government of the Federal Democratic Republic of Ethiopia and the state of Kuwait was signed in Kuwait city on the 14th day of September, 1996;

WHEREAS, it is stipulated in the Agreement that the Agreement shall formally come into force after the exchange of notes confirming ratification in compliance with the constitutional requirements of the contracting states;

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 “State of Kuwait Agreement on Investment Promotion and Protection Ratification Proclamation No.70/1997.”

2. Ratification of the Agreement

The Agreement on the Promotion and Protection of investments signed in Kuwait City on the 14th day of September, 1996 between the state of Kuwait and the Federal Democratic Republic of Ethiopia 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