Document from CIS Legislation database © 2003-2019 SojuzPravoInform LLC

AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF BELARUS AND GOVERNMENT OF THE REPUBLIC OF UZBEKISTAN

of August 1, 2019

About mutual encouragement and protection of investments

The government of the Republic of Belarus and the Government of the Republic of Uzbekistan which are hereinafter referred to as with Contracting Parties

wishing to deepen economic cooperation for mutual advantage of both states,

aiming to create and support favorable conditions for investments of investors of the state of one Contracting Party in the territory of the state of other Contracting Party,

recognizing that mutual encouragement and protection of investments on the basis of this agreement will promote development of business initiative, private capital flow and economic development in both states,

considering importance of providing the effective mechanism of protection of investments according to the national legal system of the states, and also by means of rules of international law,

agreed as follows:

Article 1 of Determination

For the purposes of this agreement:

1. The term "investments" means all types of the property enclosed by the investor of the state of one Contracting Party in connection with implementation of economic activity for the purpose of profit earning in the territory of the state of other Contracting Party according to the legislation of the state of other Contracting Party and includes, in particular:

a) personal and real estate and other property rights;

b) shares, shares or other forms of participation in the commercial organizations, and also bonds;

c) rights to claim concerning money or any obligation fulfillment under the agreement having economic value and signs of investments;

d) the rights to intellectual and industrial property, including copyright, patents for inventions, trademarks, industrial designs, specifying of the place of goods origin and technical processes, know-how, trade names, know-how and goodwill, and also other similar rights;

e) the concessions provided according to the legislation of the state of the Contracting Party in the territory of which investments, or competent authority according to the agreement, including the rights to investigation, development, production or operation of natural resources are performed;

e) other investments in other forms recognized by investments by the legislation of the state of the Contracting Party in the territory of which investments are performed.

To qualify asset as investment according to this agreement, it shall have investment signs, such as:

the obligation on capital investments or other resources;

expectation of income acquisition or arrived;

acceptance of risk.

Any change of form in which investment or reinvestment of property is performed does not affect their nature as investments provided that similar change does not contradict the legislation of the state of the corresponding Contracting Party.

For the purposes of this agreement the term "investments" does not include the following assets:

a) any percent on the debt securities issued by the government, either the state company, or controlled by the state the company or loans to the government, either the state, or controlled by the state company;

b) any presurgical expenses connected with the admission, creation, acquisition or expansion of the company, which arose prior to business transactions of the company in the host state if other is not provided by the contract between the investor and one of Contracting Parties;

c) rights to claim of money which arise only from commercial transactions on sales of goods or services;

d) rights to claim of money which arise only from loan granting in connection with any commercial transaction.

Under business transactions about which would there be a speech in the subitem) parts four of Item 1 of this Article, it is understood that the company performs all following actions without exception:

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