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Agreement between the Government of the Republic of Uzbekistan and Government of Turkmenistan on mutual encouragement and protection of investments

of January 16, 1996

The government of the Republic of Uzbekistan and the Government of Turkmenistan, the hereinafter referred to as Contracting Parties,

wishing to promote broader economic cooperation between them for mutual advantage of both states,

recognizing need of encouragement and protection of investments for the purpose of creation and preserving advantageous conditions for investments to investors of the state of one Contracting Party in the territory of the state of other Contracting Party,

agreeing that the stable basis of investments will provide maximum efficiency of use of economic resources and to development of productive forces,

agreed as follows:

Article 1. General determinations

For the purposes of this agreement:

1. The term "investor" extends and includes:

i) states of Contracting Parties;

ii) legal entities of the states of Contracting Parties;

iii) international organizations of the states of Contracting Parties;

iv) citizens, associations of citizens and stateless persons of the states of Contracting Parties.

2. The term "investments" designates any kind of property and the rights to them, and also is right on intellectual, trade and industrial property, such as, copyright, patents, useful models, industrial designs and models, trademarks, trade names, production and trade secrets, technologies, "the buzzing twisted" and "know-how".

3. Investments in the territory of the states of Contracting Parties are performed in the way:

i) creations of the economic societies and partnerships, banks, insurance companies and other companies which are completely belonging to investors or on the basis of equity in them;

ii) property acquisitions, shares and other securities;

iii) acquisitions of rights of property rights, including rights of possession and uses of the earth (including on the basis of lease) and natural resources;

iv) other activities for implementation of investments which are not contradicting the legislation existing in the territory of the state of the Contracting Party in the place of investment.

No change of form in which the investment of values is originally or repeatedly performed leads to change of their qualification as investments.

4. The term "legal entities" designates the legal entities who received the status by the legislation of the state of one Contracting Party and performing investments in the territory of other Contracting Party.

5. The term "citizens" designates the faces having the nationality and legal capacities by the legislation of the state of one Contracting Party which are constantly living in its territory or abroad and performing investments in the territory of other Contracting Party.

6. The term "stateless persons" designates the persons without citizenship who are constantly living in the territory of the state of one Contracting Party, registered according to the legislation of the state of this Contracting Party for conducting business activity and performing investments in the territory of other Contracting Party.

7. The term "income" designates, but is not exclusive - the amounts received as a result of investments as they are determined by this Article, Items 2, of 3, in the form of profit, percent, dividends, royalty, license and commission fees, payments for technical assistance, maintenance and other forms of remunerations.

8. The term "territory" means respectively the territory of the state of the Contracting Party over which this Contracting Party performs the sovereign rights and jurisdiction according to international law.

Article 2. Application of the Agreement

This agreement is applied to investments in the territory of the state of one Contracting Party, the investors of the state of other Contracting Party made according to its legislation irrespective of, they were performed to or after the moment of entry into force of this agreement.

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