Tunisia and Switzerland, Tuesday, signed a pact to stimulate and protect investment.
The agreement was signed in Tunis by Minister of Investment and International Cooperation Riadh Bettaieb and Swizz Ambassador to Tunisia Pierre Combernous.
The pact, which replaces a similar agreement signed in 1964, offers preferential treatment to investors of both countries in each other and lays down new standards for investment protection.
Bettaieb lauded the deal in press remarks after the signing ceremony and appreciated Switzerland’s decision to list Tunisia as one of the seven privileged countries in the field of financial cooperation.
“Switzerland offers indispensible assistances to the least developing regions in Tunisia,” a statement by the Tunisian Ministry of Investment and International Cooperation quoted the minister as saying. On his part, Ambassador Combernous said the pact will give a strong impetus to the two-way investment, according to the statement.
A total of 87 Swiss investment institutions are operating in Tunisia with investments amounting to 174 million Tunisian dinars (about USD 111.27 million); they employ some 12 Tunisian workers.