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Agreement For The Promotion And Reciprocal Protection Of Investments

2020/12/02 11:43

Where a contracting party grants special benefits to third-country nationals under customs union, economic union, monetary union or similar institutions agreements or on the basis of interim agreements leading to such trade unions or institutions, that contracting party is not required to grant these benefits to the nationals of the other party. in the Begon) to strengthen traditional friendships between their countries, to expand and intensify economic relations between them, especially with regard to the investments of nationals of one of the parties on the territory of the other party, 1st. Article 5 (NPF) does not apply to treatment granted by a party under a bilateral or multilateral international agreement that was in force or signed before 1 January 1994. Each party respects any commitments it may have made with respect to the treatment of investments made by the other party`s nationals. 1. Each party provides covered investment treatment in accordance with minimum international standards for the treatment of foreigners, including fair and equitable treatment, as well as total protection and security. 3. Article 5 (treatment of the most favoured nation) does not apply to treatment granted by a contracting party under the Schedule II provisions. Notwithstanding Article 17, paragraph 5, point b) (reservations and exceptions), each contracting party gives non-discriminatory treatment to an investor of the other party and an investment covered in the measures it adopts or maintains with respect to compensation for losses resulting from investments in its territory as a result of armed conflicts, civil wars or natural disasters. 3. The violation of another provision of this agreement or a separate international agreement does not prove a violation of this article. For investments made prior to the termination date of this agreement, the above articles remain applicable for a further 15 years from that date. Considering that the promotion and protection of investments made by investors of one party in the territory of the other party will promote the stimulation of mutually beneficial business activities, the development of economic cooperation between them and the promotion of sustainable development, 2.

The hearings in this section are public. The Court of Arbitration may hold in camera hearings to the extent necessary to ensure the confidentiality of the information. In particular, each party grants these investments total physical security and protection which, in any event, cannot be less than the investment of its own nationals or the investments made by nationals of a third country, depending on their more favourable level for the national concerned.

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