Kosovo, Austria sign investment protection treaty

Two ministers from the Government of Kosovo, Minister of Trade and Industry, Lutfi Zhakru and Minister of Economy and Finance, Ahmet Shala, signed in Pristina an agreement for the protection of investments with the Austrian Secretary of State, Reinhold Lopatka.

After the signing, Minister Zharku said that this treaty is very important for Austrian investors who have already invested in Kosovo, as well as to attract new investors from Austria.

“87 Austrian companies are currently operating in Kosovo and their number is growing. We hope that the investment protection treaty will encourage new investors from Austria and other countries,” said Zharku.

State Secretary of Austria, Reinhold Lopatka said that Kosovo and Austria will intensify the cooperation in the future and announced new Austrian investments in Kosovo, particularly in the banking and insurance sector.

During his stay in Kosovo, Reinhold Lopatka has visited several Austrian companies operating there.

“I am happy that we already have the investment protection treaty, and this is also a signal to other Austrian investors to invest in Kosovo. Austria’s government wants to do the best for Kosovo,” said Lopatka.

Kosovo Minister of Economy and Finance, Ahmet Shala said that this agreement shows the progress in Kosovo and the commitment of both Austria and Kosovo towards this progress. He also described the treaty as being according to the EU standards.

This is the first such treaty that Kosovo signs with an EU member country. Such an agreement was signed years ago with the U.S. Government.