Bearing in mind the friendly and cooperative relations existing between the two countries and their peoples;

Transcription

1 AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLC OF NDONESA AND THE GOVERt,,{MENT OF THE REPUBLC OF UZBEKSTAN CONCERl,,{NG THE PROMOTON AND PROTECTON OF NVESTMENTS Th:: Government of the Republc of ndonesra ar'~d the Gov'emment of the Republc of Uzbekstan, herenafter referred to as the Contractng Partes;.j -- ; 1 Bearng n mnd the frendly and cooperatve relatons exstng between the two countres and ther peoples; Desrng to promote more extensve economc cooperaton for mut',,11 beneft of both partes on a long-term bass; ntendng to create favourable condtons for nvestments by nvestors of one Contractng Party on the bass of soveregn equal~ty.and mutual. beneft; and Recognzng that the Agreement on th ~ Promoton and ProtectJn of such nvestments wll be conducve to the stmulaton of :westment actvtes n both countres; Have agreed as follows: For the purpose of ths Agreement: ARTCLE DEF'\TO[,;S l. The term "nvestments" shall mean any. knd of asset nvested bv. nvestors of one Contractng... Party n the terrtory of the other Contractng Partv. n ~ ~.. conformty wth the laws and regulatons of the latter, ncludng, but not exclusvely: l

2 a. movable and mmovable property as well as other rghts such as mortgages, prvleges, and guarantees and any other smlar rghts; " b. c. ~ ll. rghts derved from shares, bonds or any other form of- nterest n compaoles or jont venture n the terrtory of the other Contractng Party; cl:l:ns to money or to any performance havng a fnancal value; ntellectual property rghts, techncal processes, goodwll and know-how; e. busness concessons conferred by law or under contract related to nvestment ncludng concessons to search for or explot natural resources. 2. The term "natonal" shall comprse wth regard to ether Contractng Party: () () natural persons havng the natonalty of that Contractng Party; legal persons consttuted under the law of that Contractng Party; :1 l, The term "nvestor" mean.s natonal of one Contractng Party who nvest n the terrtory of the other Contractng Party. The term "wthout delay" shal be deemed to be fulflled f a transfer s made wthn such perod as s normally requred by nternatonal fnancal practces. The term "terrtory" shall mean:,,- n respect of the Republc of ndonesa: The terrtory of the Republc of ndonesa as defned n ts laws. b. n respect of the Republc of Uzbekstan: The terrtory of lle Republc of Uzbekstan "s defned n ts laws.

3 ARTCLE PROMOTON AND PROTECTON OF NVESTME;".-rS 1. Ether Contractng Party shall encourage and create favourable condtons for" nvestors of the other Contractng Party to nvest n ts terrtory, and shall admt such captal n accordance wth ts laws and regulatons., n\'estrrlclts of nv'estors of e:cher Contractng Party shall at all tmes be accorded far and eautable. t~e:;'~r:1ent and shall enj:ov, adecuate. protecton and securty n the terrtor of the other Contractng Party. ARTCLE 1\10ST -F A VOURED-l'ATON PROVSO:--;S 1. Each Contractng Party shall~nsure far and equtable treatment of the nvestments of nvestors of the other Contractng Party and shall not mpar, by unreasonable or dscrmnatory measures, the opera,on, management, mantenance, use, enjoyment or dsposal thereof by those nvestors. Each Contractng Party shal acce-rd to such nvestment adequate physcal securty and protecton. More partcularly, each Contractng Party shall accord to such nvestments treatment whch n any case shall not be less favourable than that accorded to nvestments of nvestors of any thrd state. f a Contractng Party has accorded specal advantages to nvestors of any thrd state by vrtue of agreements establshng customs unons, economc unons, monetary unons or smlar nsttutons, or on the bass of nterm agreements leadng to such unons of nsttutons, that Contractng Party shall not be oblged to accord such advantages to nvestors of the other Contractng Party. ARTCLE V EXPROPRlA TON Each Contractng Pany sl1:lllllot t:eke any n1easurcs of expropraton, natonalzaton or an\' other dspossesson, h~l\'ng effect equvalent to natonalzaton or

4 expropraton aganst the nvestments of an nvestor of the other Contractng Party except under the followng condtons: (a) the measures are taken for a lawful purpose or publc purpose and" under process of law; (0) the measures are non dscrmnatory; (c) the measures are accompaned by provsons for the payment of prompt, adeauate. and effectve comdensaton. -. Such comdensaton. shall amount to the far market value wthout delay before the measure of dspossesson became publc knowledge. Such market value shall be determned n accordance wth nternatonally acknowledged practces and methods or, where such far market value cannot be determned, t shall be such reasonable amount as may be mutually agreed between the Contractng Partes hereto, and t shall be freely transferable n freely usable currences from the Contractng Party. The compensaton shall nclude nterest from the date of expropraton untl the date of payment of the approprate commercal rate. ARTCLE V CO\PENSA TON FOR LOSSES 1. nvestors of one Contractng Party, whose nvestments n the terrtory of the other Contractng Party suffer losses owng to war or other armed conflct, revoluton, a state of natonal emergency, revolt, nsurrecton or rot n the terrtory of the latter Contractng Party, shall be accorded by the latter Contractng Party treatment, as regards resttutons, ndemnfcaton, compensaton or other settlement. 2. The treatment shall not be less favourable than that whch the latter Contractng Party accords to ts own nvestors or nvestors of any thrd state. whchc\"cr s morc favourable to the nvestors concerned. 4

5 '_. -1_ ARTCLE V TRANSFER Ether Contractng Party shall guarantee wthn the scope of ts laws and regulatons n respect to nvestments by nvestors of the other Contractng Party grant to those nvestors wthout delay, the transfer of: <1. profts, nterests, dvdends and other current ncome; b. funds necessary () () for the acquston of raw or auxlary materals, sem fabrcated or fnshed products, or to replace captal asset~ n order to safeguard the contnuty of an nvestment; e c. addtonal funds necessary for the development of an nvestment; d. funds n repayment of loans; e. royaltes or fees; f. earnngs of natural persons; g. the proceeds of sale or lqudaton of the nvestment; h. compensaton for losses;. compensaton for expropraton. 2. Such transfer shall be made at the prevalng rate of exchange on the date of transfer wth respect to current transacton n the currency to be transferred. 5

6 ARTCLE V SUBROGATON f the nvestments of an nvestor of the one Contractng Party are nsured aganst non-commercal rsks under a system establshed by law, any subrogaton of the lsurer or re-nsurer to the rghts of the sad nvestolpursuant to the terms of such nsurance shall be recognzed by the other Contractng Party, pmvded, however, that the nsurer or the re-nsurer shall not be enttled to exercse any rghts other than the rghts whch the nvestor would have been enttled to exercse. r-l. Any 2. ARTCLE Vn SETTLEME1"T OF DSPUTES BETWEE1" l\'vestors A1"D THE CO;-;TR.J\CT1"G PARTES dspute between a Contractng Party and an nvestor of the other Contractng Party, concernng an nvestment of the latter n the terrtory of the former, be settled amcably through consultatons and negotatons. f such a dspute cannot be settled wthn a perod of sx months from the date of a wrtten notfcaton ether party requested amcable settlement, the dspute shall, at the request of the nvestor concerned, be submtted ether to the judcal procedures provded by the Contractng Party concerned or to nternatonal arbtraton or conclaton. Each Contractng Party hereby consents to submt any dspute arsng between that Contractng Party and an nvestor of the other Contractng Party concernng an nvestment of that nvestor n the terrtory of the former Contractng Party to the nternatonal Center for Settlement of nvestment Dsputes for settlement by conclaton or arbtraton under the Conventon on the Settlement of nvestment Dsputes between States and Natonals of other States opened for sgnature at Washngton D.C.. on S March

7 f one of the Contractng Partes does not appont ts arbtrator and does not agree wth the nvtaton of other Contractng Party to make necessary appontment durng two months, the latter may nvte the Presdent of nternatonal Court of Justce to make any necessarj appontments. ARTCLE X SETTLEMENT OF DSPUTES BETWEEN THE CO'"TRACfNG PARTES CONCERNNG NTERPRETATON AND ApPLCATON OF THE AGREEMENT 1. Dsputes bet\veen the Contractng Partes concernng the nterpretaton or applcaton of ths Agreement should, f possble, be settled through dplomatc channels. fa dsoute, bct.veen t::'e Contracttrl -g Partes thus C2.nnot ce settled \vthn sx months from notfcaton of a dspute, t shall upon the request of ether Contractng Pany be submtted to an arbtral trbun2.1, consstng of three members. Each Contractng Party apponts one membe~ 0 f the trbunal, who then select a Chanrlan, who s a ctzen of a thrd State, whch has dplomatc relatons wth both Contractng Partes. 4. f two apponted arbtrators do not reach agreement, concernng the appontment of the Charman, any Contr9-ctng Party 'may apply to the Presdent of the nternatonal Court of Justce to make necessary appontments. 5. f n cases, ndcated n paragraphs 3 and 4 of the present Artcle, the Presdent of nternatonal Court of Justce can not exercse these functons or f he s a natonal of one of the Contractng Partes, the Deputy Presdent shall make al necessary appontments, and f he can not make these appontments, next by senorty member of nternatonal Court, who s not a ctzen of any Contractng Partes shall make all appontments. 6. The trbunal shall reach ts decsons consderng respect to laws. On any sta.ge of makng a decson, the trbunal may propose to reacn an agreement by frendly \vay. Pre\ ous provsons shall not create obstacles to such settlement of a dspute. 7. The trbunal shall determne ts own rules of. oroceedn2:s, - not volatng - other agreements of Contractng Partes" The trbunal reaches ts decsons by majorty of votes. 7

8 ,, :1 \1 1,1 '1,, ' ', 1 8. Each Contractng Party shall bear the cost of ts o\vn member of trbunal, accordng to ther part n arbtral proceedngs. Tne cost of Charman and other expenses shall be borne n equal pans by the Contractng Partes. The trbunal may determne more hgher part n coverng expenses for one of the Contractng Partes, ant ts decsoa shall be bndng for each Contractng Partv. 9. Decsons of the Trbunal shall be fnal and bndng for Contractng Partes. ARTCLE X APPLCABLTY OF THS AGREEME1'-'T Ths Agreement shall apply to nvestments by nvesto~s of Uzbekstan n the terrtory of the Republc of ndonesa whch have been prevously granted admsson n accordance wth the Law No. of concernng Foregn nvestment and any law amendng or replacng t, and to n\"estments by nvestors of the Republc of ndonesa n the terrtory of Uzbekstan accordng to legslaton on nvestment whch s vald on the date makng nvestment. ARTCLE X APPLCA TO~ OF OTHER PROVSro1'-'S f the provsons of law of ether Contractng Party or oblgatons under nternatonal law exstng at present or establshed hereafter between the Contractng Partes n addton to the present Agreement contan a regulaton, whether general or specfc, enttlng nvestments by nvestors of the other Contractng Party to a treatment more favourable than s provded for by the present Agreement, such regulaton shall to the extent that t s more favourable preval over the present Agreement. l. ARTCLE X CO:\Sl'L TA TO\" AKD A]\lE1\D)lE~T Ether Contractng Pany may re::uest that consultatons be held on any matter concernng ths Agreern;:nt. The other Pany shall accord'sympathetc consderaton to the proposal a,;c sh-all ;,fford adequate opportunty for such consulatons. '

9 .. 2. Tns Agreement may be amended at any t:me, f deemed necessary, by mutual consent. ARTCLE X E"TRY "TO FORCE, DURATO:-; AND TERMl"ATO,' '[ ~ 1. Ths :~,greement shall enter nto force th:-ee months atter the latte, date 001 \vhch the Contract:1g P~rty r.(ls notfed each other that ther consttutonal requrements... lor t h e entrj., nto rorc~ Ot '" t:11s...a~greement, nas, Deen ru '1"'1' ll ec. 2. n respect of n\'estments r:tadc pro:- to the date of ter:nnaton of ths Agreement becomes effectve, the provsons of Artcle to X shall reman n force for a further perod of ten vears from the dale of termnaton of the J present Agreement. N WThTESS WHEREOF, the undersgned, dlly authorzed thereto by ther respectve Governments, have sgnee ths Agreement. Done n duplcate at Jakarta on... ;}.... ~.'-.g.t.t;.~ n ndonesan, Uzbek, and Englsh languages. All texts are equally authentc. f there S nterpretaton, the Englsh text shall preval. any dvergence concernng the FOR THE GOVERN."fENT OF THE REPUBLC OF NDONESA FOR THE GOVERl".'MENT OF THE REPU~JF; BEKlSTA~ r.'nster for Fortgn Affars CHZEt'-: VCTOR~"ATOLEVCH Vce Prme r.lnster -,