Availability of international instruments for protection of FDIs

Azerbaijan has established a sound legal basis for promoting and protecting foreign investments. Along with national legislation, it is a party to the UN Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958) and the Washington Convention on the Settlement of Investment Disputes between States and Nationals of Other States (1965). Azerbaijan is also a party to 46 bilateral treaties on the mutual protection and promotion of investments and 44 treaties on avoiding double taxation. At present, 34 bilateral investment treaties are being negotiated with such countries as the Kingdom of Netherlands, Bosnia and Herzegovina, Spain, Russia, Canada, Brazil and others.